TORONTO, Jan. 12 /CNW/ - Landmark Global Financial Corporation
("Landmark") (NEX: LST-H) announces that it and all other lenders to
Salumatics Inc. ("Salumatics") have converted their loans to Salumatics into
equity. An aggregate of $9,827,318 of debt was converted into common shares
and, in one case, non-voting preference shares, which otherwise have the same
attributes as the common shares. Preferred shareholders of Salumatics also
converted their preferred shares into common shares.
Landmark converted an aggregate of $4,001,624 into 2,174,812 common
shares, resulting in a 52% voting and common equity interest. As a result,
Landmark will consolidate Salumatics' results into its financial statements
beginning the 1st quarter 2009.
Prior to completion of the conversions, Salumatics had an aggregate of
952,900 common shares and 799 preferred shares outstanding and now has an
aggregate of 6,041,062 common shares and non-voting preference shares
As a result of the conversions, Salumatics has no outstanding loans on
its balance sheet, other than a secured line of credit.
The TSX Venture Exchange (NEX) does not accept responsibility for the
adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements - This news release contains
certain forward-looking statements. These statements are subject to a number
of risks and uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties and should
not place undue reliance on such forward-looking statements. Landmark does not
undertake to update any forward looking statements, oral or written, made by
itself or on its behalf.
For further information:
For further information: S. Allan Magnacca, CEO, Office: (416) 362-2233,