HALIFAX, June 12, 2012 /CNW/ - Clarke Inc. ("Clarke") (TSX: CKI CKI.DB.A) announces that it has acquired 10,000 shares of Bonnett's Energy Corp. ("Bonnett's") through the facilities of the Toronto Stock Exchange bringing its total holdings in Bonnett's to 3,107,930 shares, representing approximately 21.53% of the total outstanding shares.
The purchase of the Bonnett's shares by Clarke was made for investment purposes. Clarke paid consideration of $4.00 per Bonnett's share. Clarke may, from time to time, acquire additional shares of Bonnett's, dispose of some or all of the existing or additional shares of Bonnett's, or continue to hold the shares of Bonnett's in the normal course of Clarke's investment activities.
In purchasing the Bonnett's shares, Clarke relied on the normal course purchase exemption from the formal take-over bid rules set out in Section 100 of the Securities Act (Ontario). Clarke was entitled to rely on this exemption because each of the conditions set out in Section 100 of the Securities Act (Ontario) was satisfied.
Halifax-based Clarke invests in a variety of private and publicly-traded businesses and participates actively where necessary to enhance performance and increase return. Clarke's securities trade on the Toronto Stock Exchange (CKI; CKI.DB.A); for more information about Clarke Inc., please visit our website at www.clarkeinc.com.
This press release may contain or refer to certain forward-looking statements relating, but not limited to, Clarke's expectations, intentions, plans and beliefs with respect to Clarke. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "does not expect", "is expected", "budget", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or equivalents or variations, including negative variations, of such words and phrases, or state that certain actions, events or results, "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, but are not limited to, statements regarding the trading price of the Company's securities not fully reflecting the value of the Company's business.
Forward-looking statements rely on certain underlying assumptions that, if not realized, can result in such forward-looking statements not being achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Clarke to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Risks and uncertainties include, among others, the Company's investment strategy, legal and regulatory risks, general market risk, potential lack of diversification in the Company's investments, and interest rates and foreign currency fluctuations. Although Clarke has attempted to identify important factors that could cause actual actions, events or results or cause actions, events or results not to be estimated or intended, there can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Other than as required by applicable Canadian securities laws, Clarke does not update or revise any such forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements.
For further information:
Vice President Investments
Telephone: (902) 442-3000
Fax: (902) 442-0187