Mr. Ian Kidson reports
ACASTA ANNOUNCES COURT HEARING DATE FOR ARRANGEMENT IN CONNECTION WITH THE SALE OF STELLWAGEN BUSINESS UNIT
Acasta Enterprises Inc.'s hearing for
an order approving a plan of arrangement under the Business
Corporations Act with the Superior Court of Justice (Ontario) will be held at 9
a.m. ET on Friday, March 23, 2018, at 330 University Ave.,
Toronto, Ont. The purpose of the hearing is
to reduce the stated capital of the company's Class B shares to satisfy
requirements under the OBCA related to the repurchase of 26 million
Class B shares in connection with the sale of the Stellwagen business
unit. The closing of the transaction is
conditional on obtaining court approval for the arrangement and other
customary closing conditions. Under the terms of the purchase agreement
relating to the sale of the Stellwagen business unit, the outside date
for closing the transaction is March 31, 2018.
We seek Safe Harbor.
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