TORONTO, Dec. 30, 2015 /CNW/ - LWP Capital Inc. (TSX: LWP) (formerly "Legumex Walker Inc.") ("LWP" or the "Company") today announced that effective December 31, 2015, the Company formally adopted the plan of liquidation ("Plan of Liquidation") substantially in the form set out in Schedule E to the Company's Management Information Circular dated October 12, 2015 (the "Circular"), to proceed with the voluntary liquidation and dissolution of the Company according to the Canada Business Corporations Act. In connection with the adoption of the Plan of Liquidation, the Company has appointed KSV Advisory Inc. as liquidator (the "Liquidator"). The Liquidator intends to make an application to the Court in January to have the liquidation of the Company supervised by the Court. All Court materials filed and updates on the status of the Plan of Liquidation will be available on the Liquidator's website at www.ksvadvisory.com.
Concurrently with adopting the Plan of Liquidation, the Company's board of directors, comprised of Bruce Scherr, Chris Schnarr and Peter Williams, have resigned as directors of the Company. In addition, effective at the close of markets on December 31, 2015, the LWP common shares will be delisted from trading on the TSX. There is no other market on which the LWP common shares will be traded.
Cautionary Note on Forward-looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities laws which may include, but is not limited to, statements relating to the voluntary liquidation and dissolution of the Company. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 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 LWP Capital Inc.