NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, May 18, 2012 /CNW/ - (TSXV: WNC.P) In connection with the proposed plan of arrangement (the "Arrangement") involving Wand Capital Corporation ("Wand") and True North Apartment Real Estate Investment Trust, Wand obtained an order from the Ontario Superior Court of Justice on Friday, May 18, 2012, which confirms that:
|(a)||the special meeting of the shareholders of Wand to consider and vote upon the Arrangement shall proceed on Monday, June 4, 2012 at 9:00 a.m. at Scotia Plaza, Suite 2100, 40 King Street West, Toronto, Ontario, M5H 3C2 (and not Monday, May 28, 2012, as set out in paragraph 2 of the interim order (the "Interim Order") of the Court dated April 30, 2012 in Ontario Superior Court of Justice Commercial Court File No. CV-12-9704-00CL);|
|(b)||the hearing date for final approval of the Arrangement shall proceed on Tuesday, June 5, 2012 at 10:00 a.m. at 330 University Avenue, 8th Floor, Toronto, Ontario (and not Tuesday, May 29, 2012, as referenced in paragraph 30 of the Interim Order and as set out in the Notice of Application in Ontario Superior Court of Justice Commercial Court File No. CV-12-9704-00CL); and|
|(c)||all other terms of the Interim Order, as aforesaid, shall remain unchanged and in full force and effect.|
Wand Capital Corporation
The principal business of Wand is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction, as defined in Policy 2.4 of the TSX Venture Exchange Inc.'s Corporate Finance Manual. Wand 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 Wand 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 Arrangement and the Qualifying Transaction and the intention to reorganize Wand into a real estate investment trust. 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 Wand. Completion of the Arrangement and the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and majority of the minority shareholder approval. Where applicable, the Arrangement and 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 to be prepared in connection with the Arrangement, any information released or received with respect to such 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 highly speculative.
The TSXV has in no way passed upon the merits of the Arrangement and has neither approved nor disapproved the contents of this press release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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