HALIFAX, Oct. 4 /CNW Telbec/ - (TSXV: KUT.P) RediShred Capital Corp., a
capital pool company listed on the TSX Venture Exchange, announced today that
it has signed a letter of intent to acquire the shares of Professional
Shredding Corporation, which directly and indirectly carries on the business
of granting and managing shredding business franchises under the "Proshred"
trademark. The acquisition is intended to serve as RediShred's "Qualifying
Transaction" pursuant to the policies of the TSX Venture Exchange and is
subject to the approval of the TSX Venture Exchange.
Management of RediShred expects that trading in RediShred shares will
remain halted until after a definitive agreement is signed and additional
information is provided to the TSX Venture Exchange. RediShred will provide
further details on the proposed acquisition once the information is available.
RediShred Capital Corp.
RediShred is a capital pool company listed on the TSX Venture Exchange.
Its principal business is the identification and evaluation of assets or
businesses with a view to completing a Qualifying Transaction. RediShred has
not commenced commercial operations and has no assets other than cash.
This press release contains forward-looking statements. Often, but not
always, forward-looking statements can be identified by the use of words such
as "plans", "expects" or "does not expect", "is expected", "estimates",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of RediShred to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking statements. Examples of such statements include the intention
to complete the acquisition and the Qualifying Transaction. Actual results and
developments are likely to differ, and may differ materially, from those
expressed or implied by the forward-looking statements contained in this press
release. Such forward-looking statements are based on a number of assumptions
which may prove to be incorrect, including, but not limited to: the ability of
RediShred to obtain necessary financing; satisfy conditions under any
acquisition agreement; satisfy the requirements of the TSXV with respect to
the acquisition and the Qualifying Transaction; consumer interest in
RediShred's services and products; competition; and anticipated and
unanticipated costs. While RediShred anticipates that subsequent events and
developments may cause its views to change, RediShred specifically disclaims
any obligation to update these forward-looking statements. These
forward-looking statements should not be relied upon as representing
RediShred's views as of any date subsequent to the date of this press release.
Although RediShred 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. The factors identified above are
not intended to represent a complete list of the factors that could affect the
Corporation. Additional factors are noted under "Risk Factors" in RediShred's
initial public offering prospectus dated August 21, 2007, a copy of which may
be obtained on the SEDAR website at www.sedar.com.
Completion of the Qualifying Transaction is subject to a number of
conditions, including but not limited to, completion of a definitive
agreement, TSX Venture Exchange acceptance, due diligence, financing and, if
applicable pursuant to TSX Venture Exchange requirements, majority of the
minority shareholder approval. Where applicable, the Qualifying Transaction
cannot close until the required shareholder approval is obtained. There can be
no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management
information circular or filing statement to be prepared in connection with the
transaction, any information released or received with respect to the
transaction may not be accurate or complete and should not be relied upon.
Trading in the securities of a capital pool company should be considered
The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release.
For further information:
For further information: Mark MacMillan, President and CEO, RediShred
Capital Corp., (902) 406-3347