F <irene_fam@hotmail.com>
Subject: FW: PLEASE DISSEMINATE IMMEDIATELY- THANKS!
PLAIN TEXT:
NEWS RELEASE
Change of Business
September 2, 2014
VANCOUVER, BRITISH COLUMBIA, September 2, 2014 | Chinook Tyee Industry Limited (the "Company") (NEX-XCX.H), is pleased
---> to announce
that it will be pursuing a proposed change of business to a Tier 2 investment company (the "Proposed COB") listed on
--->the TSX Venture Exchange (the "TSXV").
Summary of the Proposed COB
After a thorough review of the Company's resources and strategic options, and given the expertise and skill sets of th
--->e Company's
directors, the Company's management has determined to focus its business operations on the financial services industr
--->y. Under the Proposed COB, the Company seeks to change its business from "Inactive" to an "Investment Issuer" under t
--->he classification of
financial service holding company. Upon completion of the Proposed COB, the Company's primary focus will be to seek
--->returns through investments in the securities of other companies and other assets. The Company will focus on financial
---> services, merchant banking
and private equity activities.
In connection with the Proposed COB, the Company intends to adopt an investment policy (the "Investment Policy") to go
--->vern its investment
activities and investment strategy. A copy of the Investment Policy will be posted on the Company�s profile at
www.sedar.com A description of the Investment Policy follows.
Objectives
Seek a return on investments through returns from financial services, which includes investment gains, interest income
---> and advisory services fees. The Company
plans to reinvest the profits of its investments to further the growth and development of the Company's investment po
--->rtfolio.
Investment Sector
Middle-to-small market European and North American private and publicly listed companies.
Investment Types
Equity and debt and any other investment structures or instruments that could be acquired or created.
Investment Size
Unlimited.
Investment Timeline
Not Limited.
Composition of Portfolio Holdings
Subject to the availability of capital, the Company intends to create a diversified investment portfolio. The Company
---> will aim to structure its investments
in such a way as to not be deemed either an Investment Fund or Mutual Fund, as defined by applicable securities laws,
---> thereby avoiding the requirement to register as a fund or investment advisor
Monitoring of Portfolio Holdings
The Company seeks to serve as a lead agent or investor in order to optimize due diligence and capital structure as wel
--->l as enable active monitoring of the investment.
The Company may provide assistance to certain of our portfolio companies which may involve, among other things, moni
--->toring the operations of our portfolio companies, participating in board and management meetings, consulting with and
--->advising officers of
portfolio companies and providing other organizational and financial guidance. The Company generally will receive me
--->rchant banking fees for these services and have all of its costs reimbursed.
Procedures and Implementation
Prospective investments will be channelled through management. Management shall make an assessment of whether the pro
--->posal fits with the Investment Policy and
then proceed with preliminary due diligence, leading to a decision to reject or move the proposal to the next stage o
--->f detailed due diligence. This process may involve the participation of outside consultants. If management determines
---> that an investment opportunity
should be pursued, the Company will engage in an intensive due diligence process and prepare a report for the Board.
---> Approval of an investment for funding requires the approval of the majority of the Board. All investments shall be
--->submitted to the Board
for final approval. Management will select all investments for submission to the Board and monitor the investment po
--->rtfolio on an ongoing basis, and will be subject to the direction of the Board.
Conflicts of Interest
The Company does not plan to invest in companies in which a Board member may already have a material direct investment
---> in. Any potential investments where there
is a material conflict of interest involving management or the Board may only proceed after receiving approval from d
--->isinterested directors of the Board. The Company is also subject to the "related party" transaction policies of the T
--->SXV. All members of
the Board shall be obligated to disclose any interest in the potential investment.
Amendment of Investment Policy
The Company's Investment Policy may be amended with approval from the Board..
Shareholder Approval
The Proposed COB requires the approval of the shareholders of the Company. The Company has scheduled a meeting of its
--->shareholders
on September 29, 2014 (the "Meeting") to obtain this approval. A majority of shareholders present at the Meeting must
---> approve the Proposed COB for it to proceed. Further information regarding the Meeting and the Proposed COB will be c
--->ontained in the management
information circular (the "Circular") to be mailed to the Company�s shareholders in respect of the Meeting. A copy o
--->f the Circular will also be available on the Company�s profile at
www.sedar.com.
Other Information
Completion of the Proposed COB is subject to a number of conditions, including TSXV acceptance and shareholder approva
--->l. There
can be no assurance that the Proposed COB will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Circular to be prepared in connection with the Proposed COB a
--->ny information
released or received with respect to the Proposed COB may not be accurate or complete and should not be relied upon.
--->Trading in the securities of the Company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed COB and has neither approved nor di
--->sapproved
the contents of this press release.
For further information please contact:
Tom Kusumoto
President and Director
Phone: (604) 689-7533
investor@chinooktyee.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the T
--->SX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements regarding the Proposed COB. These statements are su
--->bject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the fo
--->rward-looking statements.
When relying on forward-looking statements to make decisions, investors and others should carefully consider the fore
--->going factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Comp
--->any does not undertake
to update any forward looking statements, oral or written, made by itself or on its behalf, except as required by app
--->licable law.
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<b><span lang="EN-CA" style="font-size:14.0pt;font-family:"Times New Roman","serif";"> </span
--->></b></p>
<p class="ecxMsoNormal" align="center" style="text-align:center;line-height:normal;text-autospace:none;">
<b><span lang="EN-CA" style="font-size:14.0pt;font-family:"Times New Roman","serif";"> </span
--->></b></p>
<p class="ecxMsoNormal" align="center" style="text-align:center;line-height:normal;text-autospace:none;">
<b><span lang="EN-CA" style="font-size:14.0pt;font-family:"Times New Roman","serif";">NEWS RELEASE
---></span></b></p>
<p class="ecxMsoNormal" align="center" style="text-align:center;line-height:normal;text-autospace:none;">
<b><span lang="EN-CA" style="font-size:14.0pt;font-family:"Times New Roman","serif";"> </span
--->></b></p>
<p class="ecxMsoNormal" align="center" style="text-align:center;line-height:normal;text-autospace:none;">
<b><span lang="EN-CA" style="font-size:14.0pt;font-family:"Times New Roman","serif";">Change of Bu
--->siness</span></b></p>
<p class="ecxMsoNormal" style="text-align:justify;line-height:normal;text-autospace:none;">
<b><span lang="EN-CA" style="font-size:12.0pt;font-family:"Times New Roman","serif";"> </span
--->></b></p>
<p class="ecxMsoNormal" style="text-align:justify;line-height:normal;text-autospace:none;">
<span lang="EN-CA" style="font-family:"Times New Roman","serif";">September 2, 2014</span></p>
<p class="ecxp8" style="text-align:justify;line-height:15.0pt;"><span style="font-size:11.0pt;font-family:"Times
--->New Roman","serif";">VANCOUVER, BRITISH COLUMBIA, September 2, 2014 | Chinook Tyee Industry Limited (th
--->e "Company") (NEX-XCX.H), is pleased to announce
that it will be pursuing a proposed change of business to a Tier 2 investment company (the "Proposed COB") listed on
--->the TSX Venture Exchange (the "TSXV").</span></p>
<p class="ecxp8" style="text-align:justify;line-height:15.0pt;">
<b><span style="font-size:11.0pt;font-family:"Times New Roman","serif";">Summary of the Proposed C
--->OB</span></b><span style="font-size:11.0pt;font-family:"Times New Roman","serif";"></span></p>
<p class="ecxp8" style="text-align:justify;line-height:15.0pt;"><span style="font-size:11.0pt;font-family:"Times
--->New Roman","serif";">After a thorough review of the Company's resources and strategic options, and give
--->n the expertise and skill sets of the Company's
directors, the Company's management has determined to focus its business operations on the financial services industr
--->y. Under the Proposed COB, the Company seeks to change its business from "Inactive" to an "Investment Issuer" un
--->der the classification of
financial service holding company. Upon completion of the Proposed COB, the Company's primary focus will be to
--->seek returns through investments in the securities of other companies and other assets. The Company will focus on fina
--->ncial services, merchant banking
and private equity activities.</span></p>
<p class="ecxp3" style="text-align:justify;line-height:15.0pt;"><span style="font-size:11.0pt;font-family:"Times
--->New Roman","serif";">In connection with the Proposed COB, the Company intends to adopt an investment po
--->licy (the "Investment Policy") to govern its investment
activities and investment strategy. A copy of the Investment Policy will be posted on the Company�s profile at
</span><a href="http://www.sedar.com" target="_blank"><span style="font-size:11.0pt;font-family:"Times New Roman&
--->quot;,"serif";">www.sedar.com</span></a><span style="font-size:11.0pt;font-family:"Times New Roman"
--->;,"serif";"> A description of the Investment Policy follows.</span></p>
<table class="ecxMsoNormalTable" border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;">
<tbody>
<tr style="page-break-inside:avoid;">
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;background:#D9D9D9;padding:5.25pt 7.5pt 5
--->.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Objectives</span><
--->/b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border:solid #DDDDDD 1.0pt;border-left:none;padding:5.25pt 7.5pt 5.2
--->5pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">Seek a return on investments through returns from financial services, which includes investment gains, interest
---> income and advisory services fees. The Company
plans to reinvest the profits of its investments to further the growth and development of the Company's investme
--->nt portfolio.</span></p>
</td>
</tr>
<tr style="page-break-inside:avoid;">
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Investment Sector<
--->/span></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">Middle-to-small market European and North American private and publicly listed companies. </span></p
--->>
</td>
</tr>
<tr>
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Investment Types</
--->span></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">Equity and debt and any other investment structures or instruments that could be acquired or created. </sp
--->an></p>
</td>
</tr>
<tr>
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Investment Size</s
--->pan></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">Unlimited.</span></p>
</td>
</tr>
<tr>
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Investment Timelin
--->e</span></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">Not Limited.</span></p>
</td>
</tr>
<tr>
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Composition of Por
--->tfolio Holdings</span></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">Subject to the availability of capital, the Company intends to create a diversified investment portfolio.
---> The Company will aim to structure its investments
in such a way as to not be deemed either an Investment Fund or Mutual Fund, as defined by applicable securities
--->laws, thereby avoiding the requirement to register as a fund or investment advisor</span></p>
</td>
</tr>
<tr>
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Monitoring of Port
--->folio Holdings</span></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">The Company seeks to serve as a lead agent or investor in order to optimize due diligence and capital structure
---> as well as enable active monitoring of the investment.
The Company may provide assistance to certain of our portfolio companies which may involve, among oth
--->er things, monitoring the operations of our portfolio companies, participating in board and management meetings,
--->consulting with and advising officers of
portfolio companies and providing other organizational and financial guidance. The Company generally will
--->receive merchant banking fees for these services and have all of its costs reimbursed. </span></p>
</td>
</tr>
<tr>
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Procedures and Imp
--->lementation</span></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">Prospective investments will be channelled through management. Management shall make an assessment o
--->f whether the proposal fits with the Investment Policy and
then proceed with preliminary due diligence, leading to a decision to reject or move the proposal to the next st
--->age of detailed due diligence. This process may involve the participation of outside consultants.. If manag
--->ement determines that an investment opportunity
should be pursued, the Company will engage in an intensive due diligence process and prepare a report for the Board.
---> Approval of an investment for funding requires the approval of the majority of the Board. All invest
--->ments shall be submitted to the Board
for final approval. Management will select all investments for submission to the Board and monitor the&nbs
--->p;investment portfolio on an ongoing basis, and will be subject to the direction of the Board. </span></p>
</td>
</tr>
<tr style="page-break-inside:avoid;">
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Conflicts of Inter
--->est</span></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">The Company does not plan to invest in companies in which a Board member may already have a material direc
--->t investment in. Any potential investments where there
is a material conflict of interest involving management or the Board may only proceed after receiving approval f
--->rom disinterested directors of the Board. The Company is also subject to the "related party" transaction&nb
--->sp;policies of the TSXV. All members of
the Board shall be obligated to disclose any interest in the potential investment. </span></p>
</td>
</tr>
<tr style="page-break-inside:avoid;">
<td width="175" valign="top" style="width:104.9pt;border:solid #DDDDDD 1.0pt;border-top:none;background:#D9D9D9;paddin
--->g:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal"><b><span style="font-family:"Times New Roman","serif";">Amendment of Inves
--->tment Policy</span></b></p>
</td>
<td width="605" valign="top" style="width:362.9pt;border-top:none;border-left:none;border-bottom:solid #DDDDDD 1.0pt;b
--->order-right:solid #DDDDDD 1.0pt;padding:5.25pt 7.5pt 5.25pt 7.5pt;">
<p class="ecxMsoNormal" style="text-align:justify;"><span style="font-family:"Times New Roman","serif&q
--->uot;;">The Company's Investment Policy may be amended with approval from the Board.</span></p>
</td>
</tr>
</tbody>
</table>
<p class="ecxp3" style="text-align:justify;line-height:15.0pt;">
<b><span style="font-size:11.0pt;font-family:"Times New Roman","serif";">Shareholder Approval</spa
--->n></b><span style="font-size:11.0pt;font-family:"Times New Roman","serif";"></span></p>
<p class="ecxp3" style="text-align:justify;line-height:15.0pt;"><span style="font-size:11.0pt;font-family:"Times
--->New Roman","serif";">The Proposed COB requires the approval of the shareholders of the Company. The Com
--->pany has scheduled a meeting of its shareholders
on September 29, 2014 (the "Meeting") to obtain this approval. A majority of shareholders present at the Meeting must
---> approve the Proposed COB for it to proceed. Further information regarding the Meeting and the Proposed COB will
---> be contained in the management
information circular (the "Circular") to be mailed to the Company�s shareholders in respect of the Meeting. A c
--->opy of the Circular will also be available on the Company�s profile at
</span><a href="http://www.sedar.com" target="_blank"><span style="font-size:11.0pt;font-family:"Times New Roman&
--->quot;,"serif";color:windowtext;">www.sedar.com</span></a><span style="font-size:11.0pt;font-family:"Tim
--->es New Roman","serif";">.</span></p>
<p class="ecxp3" style="text-align:justify;line-height:15.0pt;"><b><span style="font-size:11.0pt;font-family:"Tim
--->es New Roman","serif";">Other Information</span></b></p>
<p class="ecxp3" style="text-align:justify;line-height:15.0pt;"><i><span style="font-size:11.0pt;font-family:"Tim
--->es New Roman","serif";">Completion of the Proposed COB is subject to a number of conditions, including
--->TSXV acceptance and shareholder approval. There
can be no assurance that the Proposed COB will be completed as proposed or at all.
</span></i></p>
<p class="ecxp3" style="text-align:justify;line-height:15.0pt;"><i><span style="font-size:11.0pt;font-family:"Tim
--->es New Roman","serif";">Investors are cautioned that, except as disclosed in the Circular to be prepare
--->d in connection with the Proposed COB any information
released or received with respect to the Proposed COB may not be accurate or complete and should not be relied upon.
--->Trading in the securities of the Company should be considered highly speculative.</span></i></p>
<p class="ecxp3" style="text-align:justify;line-height:15.0pt;"><i><span style="font-size:11.0pt;font-family:"Tim
--->es New Roman","serif";">The TSX Venture Exchange Inc. has in no way passed upon the merits of the Propo
--->sed COB and has neither approved nor disapproved
the contents of this press release.</span></i><span style="font-size:11.0pt;font-family:"Times New Roman",&
--->quot;serif";"></span></p>
<p class="ecxMsoNormal" style="text-align:justify;line-height:normal;page-break-after:avoid;text-autospace:none;">
<span lang="EN-CA" style="font-family:"Times New Roman","serif";">For further information please c
--->ontact:</span></p>
<p class="ecxMsoNormal" style="text-align:justify;line-height:normal;page-break-after:avoid;text-autospace:none;">
<span lang="EN-CA" style="font-family:"Times New Roman","serif";"> </span></p>
<p class="ecxMsoNormal" style="text-align:justify;line-height:normal;page-break-after:avoid;text-autospace:none;">
<span lang="EN-CA" style="font-family:"Times New Roman","serif";">Tom Kusumoto</span></p>
<p class="ecxMsoNormal" style="text-align:justify;line-height:normal;page-break-after:avoid;text-autospace:none;">
<span lang="EN-CA" style="font-family:"Times New Roman","serif";">President and Director</span></p
--->>
<p class="ecxMsoNormal" style="text-align:justify;line-height:normal;page-break-after:avoid;text-autospace:none;">
<span lang="EN-CA" style="font-family:"Times New Roman","serif";">Phone: (604) 689-7533</span></p>
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<a href="mailto:investor@chinooktyee.com"><span lang="EN-CA" style="font-family:"Times New Roman","seri
--->f";">investor@chinooktyee.com</span></a><span style="font-family:"Times New Roman","serif";co
--->lor:black;">
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<i><span lang="EN-CA" style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black;">
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<b><i><span lang="EN-CA" style="font-family:"Times New Roman","serif";">Neither the TSX Venture Ex
--->change nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accep
--->ts responsibility for the adequacy or accuracy
of this release.</span></i></b><b><i><span lang="EN-CA"></span></i></b></p>
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<p class="ecxMsoNormal" style="text-align:justify;"><u><span lang="EN-CA" style="font-family:"Times New Roman&quo
--->t;,"serif";">Caution Regarding Forward-Looking Statements</span></u><span lang="EN-CA" style="font-family:&q
--->uot;Times New Roman","serif";"> - This news release
contains certain forward-looking statements, including statements regarding the Proposed COB. These statements are su
--->bject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the fo
--->rward-looking statements.
When relying on forward-looking statements to make decisions, investors and others should carefully consider the fore
--->going factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Comp
--->any does not undertake
to update any forward looking statements, oral or written, made by itself or on its behalf, except as required by app
--->licable law.</span><span style="font-family:"Times New Roman","serif";"></span></p>
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