/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Dec. 30, 2015 /CNW/ - Sunstone Opportunity Fund (2005) Limited Partnership ("Sunstone (2005) LP") and SRAI Capital Corp. ("SRAI"), a subsidiary of Knightswood Financial Corp., today announced the three month extension of the Series C Debenture to March 31, 2016.
The extension was required to facilitate the completion of the potential sale of one of the two remaining assets held by Sunstone (2005) LP. Upon condition removal, and subsequent completion of the sale, SRAI and Sunstone (2005) LP anticipate redeeming the Series C Debenture in its entirety and paying all accrued interest to the debentureholders.
The certificates are currently held by CDS with respect to the Debentures and shall continue to be effective until March 31, 2016, the new maturity date. Should a further extension be required, Sunstone (2005) LP and SRAI will notify all interested parties at that time.
Certain statements contained in this news release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward looking statements in this news release include: (i) the completion of the potential sale of one of the two remaining assets held by Sunstone (2005) LP; and (ii) Upon condition removal, and subsequent completion of the sale, SRAI and Sunstone (2005) LP anticipate redeeming the Series C Debenture in its entirety and paying all accrued interest to its debentureholders.
The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by Sunstone (2005) LP and SRAI. Although Sunstone (2005) LP and SRAI believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Sunstone (2005) LP and SRAI can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to conclude the sale of one of the properties,competitive factors in the industries in which Sunstone (2005) LP and SRAI operates, prevailing economic conditions, and other factors, many of which are beyond the control of Sunstone (2005) LP and SRAI.
The forward-looking statements contained in this news release represent Sunstone (2005) LP and SRAI's expectations as of the date hereof, and are subject to change after such date. Sunstone (2005) LP and SRAI disclaims any intention or obligation to update or revise any forward-looking statements whether as a result.
This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
SOURCE Sunstone Opportunity Fund (2005) Limited Partnership
For further information: Andrew Greig, Director of Business Development, Sunstone Opportunity Fund (2005) Limited Partnership and SRAI Capital Corp., Suite 910, 925 West Georgia Street, Vancouver, BC V6C 3L2, Phone: (604) 681-5959 or (888) 681-5959, E-mail: [email protected]