— A majority of votes have been cast with overwhelming support for each proposal —
WINNIPEG, Nov. 4, 2015 /CNW/ - Legumex Walker Inc. (TSX: LWP) ("LWI" or the "Company") today reminds its shareholders to vote "FOR" the proposed sale of substantially all of the assets of the Company's Special Crops Division to The Scoular Company ("The Sale Transaction"), the voluntary liquidation and dissolution of the Company according to the Canada Business Corporations Act and other related matters ("the Resolutions") as previously announced in a news release dated October 15, 2015. The filing deadline for submitting proxy forms and voting instruction forms is November 5, 2015 at 10:00 a.m. (Toronto time).
As of the end of day November 3, 2015, a majority of shareholders have voted 99% in favour of each of the Resolutions.
The Board of Directors ("the Board") of LWI has unanimously approved the sale of the Specialty Crops Division as being in the best interest of shareholders, based on its own investigations, and on the opinion of AltaCorp Capital Inc., engaged as a financial advisor to the Board. As such, the Board reiterates its previous recommendation that shareholders vote in favour of the Sale Transaction and other related matters.
THE SPECIAL MEETING
A special meeting ("the Meeting") of shareholders to consider the Resolutions will be held on November 9, 2015 at 10:00 a.m. (Toronto time) at the offices of Borden Ladner Gervais LLP, Scotia Plaza, 40 King St. W., 44th Floor, Toronto, Ontario. All shareholders are encouraged to vote.
HOW TO VOTE
Registered shareholders (shareholders who hold LWI shares in their name and represented by a physical certificate or through the Direct Registration System) may vote by mail, internet, fax or in person at the Meeting. In the interest of time, shareholders are encouraged to vote via the internet or by fax as follows:
Internet: Vote online at www.voteproxyonline.com, using the 12 digit control number located on your proxy.
Beneficial shareholders (shareholders who hold LWI shares through a bank, broker or other intermediary) will have different voting instructions provided to them and should follow the instructions found on their voting instruction form to vote online, by telephone or fax.
Shareholders who have questions or require assistance with voting may contact LWI's Proxy Solicitation Agent:
Laurel Hill Advisory Group
Toll free: 1-877-452-7184 or 416-304-0211 (collect)
About Legumex Walker Inc.
LWI is a growth-oriented processor and merchandiser of pulses and other special crops, and with the completion of the PCC canola seed processing facility in Washington State, canola products. The Company derives its revenue from sourcing, processing, marketing and distributing special crops, canola products and associated healthy, specialty food ingredients to a global customer base. The Company operates processing facilities in the Canadian Prairies, American Midwest, the Pacific Northwest, and China.
Cautionary Note on Forward-looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities laws which may include, but are not limited to, statements relating to the votes cast in respect of the Resolutions. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risk that the outcome of the vote at the Meeting will be different from the votes cast to the date of this press release, the risk that proxies previously submitted will be revoked, the risk that the conditions to the completion of the sale of the Special Crops Division, including shareholder and regulatory approvals, will not be satisfied, as well as the risks described in the Circular which is available on SEDAR at www.sedar.com and should be reviewed in conjunction with this document. Although the Company believes the assumptions inherent in forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this press release. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
SOURCE Legumex Walker Inc.
For further information: please contact: Lauren Moran, Manager, Investor Relations, firstname.lastname@example.org, (425) 250-1498; Lawrence Chamberlain, NATIONAL Equicom, email@example.com, (416) 848-1457