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TORONTO, Dec. 15 /CNW/ - GT Canada Capital Corporation (TSX-V: MOB.P) (the "Corporation") is pleased to announce today that its shareholders overwhelmingly approved its proposed acquisition of a medical office building located at 631 Queenston Road in Hamilton, Ontario as its qualifying transaction (the "Qualifying Transaction") at a special meeting of shareholders held on December 15, 2009 (the "Special Meeting"). The resolution approving the Qualifying Transaction was approved by 100% of the votes cast on the matter. The approval included the required "majority of the minority" of shareholders that cast votes at the Special Meeting.
The Corporation is also pleased to announce that its shareholders have approved the change of the Corporation's name to "GT Canada Medical Properties Inc.". The name change is expected to be finalized upon completion of the Qualifying Transaction.
A copy of the management information circular sent to shareholders in respect of the Special Meeting, containing details regarding the proposed Qualifying Transaction and the property to be acquired, is available online at www.sedar.com.
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange ("TSXV") acceptance and completion of a proposed private placement. There can be no assurance that the proposed Qualifying Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this press release. The TSXV does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE GT CANADA CAPITAL CORPORATION
For further information: For further information: Andrew I. Shapack, Chief Executive Officer, (416) 572-2170