TORONTO, Feb. 24, 2015 /CNW/ - In advance of the annual and special meeting of shareholders of Lawrence Enterprise Fund Inc. (the "Fund") to be held on February 26, 2015 (the "Meeting"), the Fund is pleased to announce that it has completed the sale of substantially all securities previously held by the Fund in GeoDigital International Inc. (the "GeoDigital Sale").
Completion of the GeoDigital Sale was a necessary pre-condition to proceeding with the proposed voluntary liquidation and dissolution of the Fund (the "Proposed Wind-Up"). The Proposed Wind-Up remains subject to the approval of the shareholders and any necessary regulatory approvals.
Further details regarding the Proposed Wind-Up may be found in the management information circular dated February 3, 2015 (the "Circular") mailed to shareholders in connection with the Meeting. Copies of the Circular may also be found at www.sedar.com.
Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "believe", "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of the Fund. There are no assurances the Fund can fulfill such forward-looking statements and the Fund does not undertake any obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Fund, some of which are beyond the control of the Fund.
SOURCE Lawrence Enterprise Fund Inc.
For further information: Larry Guy, Chief Executive Officer, Lawrence Enterprise Fund Inc., (416) 930-7660