TORONTO, April 29, 2015 /CNW/ - Lawrence Enterprise Fund Inc. (the "Fund") announces today that, it has made a terminal distribution to its Class A shareholders (the "Terminal Distribution") in accordance with their rights as shareholders and with the Canada Business Corporations Act (the "CBCA"). All Class A shares in the Fund have now been cancelled. The Fund also announces that, pursuant to Section 211 of the CBCA, a Certificate of Intent to Dissolve has been issued to the Fund by the Director under the CBCA.
After the Terminal Distribution, the Fund will continue to operate for a short period of time and only to the extent necessary to complete certain remaining administrative tasks, including the disposal of certain shares still held by the Fund in Trilliant Holdings Inc., a venture issuer having a fair valuation of $0 as reported in the Fund's audited financial statements for the year ended August 31, 2014. To the extent the Fund has any remaining assets after completing its liquidation process and paying all of its remaining costs, the Fund will make a subsequent distribution at a future date, immediately prior to filing its Certificate of Dissolution.
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