TORONTO, Feb. 24 /CNW/ - Leader Capital Corp. ("Leader") announces the
following updates consequent upon shareholder approval for the consolidation
(the "Consolidation") of its common shares on a 1:500,000 basis received at
the special meeting of shareholders held on February 18, 2009.
Articles of Amendment Filed
Leader announces that it is filing articles of amendment on February 24,
2009 giving effect to the Consolidation.
TSX Venture Exchange Delisting
On February 23, 2009, the TSX Venture Exchange issued a bulletin
announcing that the common shares of Leader will be delisted effective at the
close of business on February 25, 2009.
Ceasing to be a Reporting Issuer
Following delisting of its common shares from the TSX Venture Exchange,
Leader will file notices and make applications to cease to be a reporting
issuer for the purposes of applicable Canadian securities laws in those
provinces where Leader is currently a reporting issuer.
Shareholders Acquiring Additional Shares of Leader
368538 Ontario Inc.
On February 23, 2009, Magaly Bianchini, President and a director of
Leader, indirectly through 368538 Ontario Inc. ("368538") acquired 2,421,000
common shares of Leader at a price of $0.51 per share pursuant to private
agreements with two shareholders. After completing the acquisitions, 368538
will hold 2,587,320 common shares, representing 17.79% of the outstanding
common shares of Leader.
368538 is making the acquisitions to increase its ownership of Leader for
investment purposes and may acquire ownership or control over additional
common shares of Leader depending on market conditions and other strategic
Exclusive Asset Management Inc.
On February 23, 2009, Salvatore Fuda, Chairman and a director of Leader,
indirectly through Exclusive Asset Management Inc. ("Exclusive Asset
Management") acquired 3,177,163 common shares of Leader at a price of $0.51
per share pursuant to private agreements with three shareholders. After
completing the acquisitions, Exclusive Asset Management will hold 4,820,345
common shares, representing 33.14% of the outstanding common shares of Leader.
Exclusive Asset Management is making the acquisitions to increase its
ownership of Leader for investment purposes and may acquire ownership or
control over additional common shares of Leader depending on market conditions
and other strategic considerations.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
This news release contains forward-looking statements. These statements
are based on information currently available to Leader and Leader provides no
assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe
Leaders future plans, objectives or goals, including words to the effect that
Leader or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would", "will", or
"plan". Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of Leader's
mineral properties, and Leader's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties
encountered in connection with the activities of the Company; and other
matters discussed in this news release. This list is not exhaustive of the
factors that may affect any of Leader's forward-looking statements. These and
other factors should be considered carefully and readers should not place
undue reliance on Leader's forward-looking statements. Leader does not
undertake to update any forward-looking statement that may be made from time
to time by Leader or on its behalf, except in accordance with applicable
For further information:
For further information: in respect of Leader and/or to obtain a copy of
the early warning reports filed in respect of the additional share
acquisitions, please contact Magaly Bianchini, President, Leader Capital Corp.
at (416) 304-1913