TORONTO, Dec. 20, 2017 /CNW/ - Nesscap Energy Inc. (the "Company" or "Nesscap") announces that it will apply for a Tax Clearance Certificate from the Canada Revenue Agency (the "Tax Clearance Certificate") covering all taxation years until December 31, 2017, prior to distributing its remaining assets to shareholders. All remaining shares of Maxwell Technologies, Inc. held by the Company will be distributed to shareholders on a pro rata basis following receipt of the Tax Clearance Certificate, and after payment of expenses and establishment of an indemnity reserve for any future liabilities. Timing of the final distribution is unknown given the uncertainty of the timing of receipt of the Tax Clearance Certificate, but Nesscap is currently anticipating the final distribution to take place on or around June 30, 2018.
Forward-Looking Statement Disclaimer
Certain statements that are not historical facts made in this press release may be "forward-looking statements" within the meaning of applicable Canadian securities legislation (forward-looking information and forward-looking statements being collectively herein after referred to as "forward-looking statements") and are subject to risks and uncertainties. Statements containing words such as "will", "could", "expect", "may", "anticipate", "believe", "intend", "estimate", "plan" and other similar expressions are forward-looking statements that represent management's beliefs at the time the statements are made and are based on certain factors and assumptions. Such forward looking statements may include, without limitation, statements regarding the completion of the dissolution and the expected benefits of the Arrangement to shareholders.
These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties involving the Arrangement, the completion of the dissolution, the expected benefits of the Arrangement to the shareholders, and other risks and uncertainties as more fully described in the Company's regulatory filings with the securities regulatory authorities, which are available under the Company's profile at www.sedar.com. Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other actors are not exhaustive; therefore, readers should not place undue reliance on the forward-looking statements contained herein. Except as required by applicable securities laws, the Company undertakes no obligation to update any forward looking statement to reflect events or circumstances after the date on which such statement is made.
SOURCE Nesscap Energy Inc.
For further information: Nesscap Energy Inc., Jim Zuidema, Chief Executive Officer, Tel: 1 (845) 652-0833, Email: [email protected]