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TORONTO, Sept. 18 /CNW/ - ISG Capital Corporation (TSX-V: SUS.P) (the
"Corporation") is pleased to announce today that its shareholders approved its
proposed acquisition of 311 Ingersoll Road in Ingersoll, Ontario (the
"Qualifying Transaction Property") as its qualifying transaction (the
"Qualifying Transaction") at a special meeting of shareholders held on
September 17, 2008 (the "Special Meeting"). The resolution approving the
Qualifying Transaction was approved by the required "majority of the minority"
of shareholders that cast votes at the Special Meeting.
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
Assuming all conditions to closing are satisfied, including the
completion of the Corporation's previously announced private placement, the
Qualifying Transaction is expected to close in mid-October, 2008.
The Corporation is also pleased to announce that the Qualifying
Transaction Property has received Building Owners Managers Association of
Canada (BOMA) Go Green Certification. BOMA specifically developed this unique
national certification program for existing buildings in order to recognize
and reward environmental leadership within the real estate industry. "BOMA's
certification is an excellent starting point. It is aligned with our mission
which is to be the industry-leading real estate investment platform with an
environmental and socially responsible approach to long-term value creation
for all of our stakeholders" added David Ogden, ISG's President and CEO.
Completion of the Qualifying Transaction is subject to a number of
conditions, including but not limited to, TSXV acceptance and completion of
the 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.
For further information:
For further information: David Ogden, President & Chief Executive
Officer, (416) 203-7538 or (877) 877-0213, www.isgcapital.ca