Kingsway Arms Retirement Residences Inc. Announces Shareholders' Meeting Results
28 May 2014 - 6:23AM
Marketwired
Kingsway Arms Retirement Residences Inc. Announces Shareholders'
Meeting Results
TORONTO, ONTARIO--(Marketwired - May 27, 2014) - Kingsway Arms
Retirement Residences Inc. (TSX-VENTURE:KWA) (the "Company" or
"Kingsway") provides the following update regarding recent
developments. At its annual and special meeting of shareholders on
May 14, 2014 (the "Meeting"), Patrick Byrne, Dan Amadori, John
Mackinnon, Frank T. Rossi, Bruce Dimytosh and Don MacKinnon were
unanimously re-elected to the Company's Board of Directors (the
"Board").
At the Meeting, the Company's shareholders also:
- unanimously re-appointed Collins Barrow Toronto LLP as the
Company's auditor for the next financial year and authorized the
Board to fix the remuneration of the auditor; and
- unanimously approved the proposed sale of the Clarington
Retirement Residence ("Clarington") as further described in the
Company's press release dated May 12, 2014 and the management
information circular for the Meeting (the "Transaction").
The Transaction is scheduled to close on May 30, 2014, and the
TSX Venture Exchange has advised the Company that it has no
objection to the closing of the Transaction. Promptly following
closing, the Company will issue a confirming press release and file
the material agreements on SEDAR.
About Kingsway Arms
Retirement Residences Inc.:
Kingsway is the owner of senior housing facilities located in
Aurora, Ontario and in Clarington, Ontario. The Corporation
continues to actively pursue the acquisition and development of
additional senior housing facilities in order to grow the Company's
portfolio of properties.
Safe Harbor
Statement:
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause the Company's actual
results to differ materially from those projected in such
forward-looking statements. In particular, factors that could cause
actual results to differ materially from those in forward-looking
statements include: our inability to obtain additional financing on
acceptable terms; risk that our facilities will not gain widespread
market acceptance; inability to compete with others who provide
comparable facilities. Forward-looking statements speak only as of
the date made and are not guarantees of future performance. We
undertake no obligation to publicly update or revise any
forward-looking statements. When used in this document, the words
"believe," "expect," "anticipate," "estimate," "project," "plan,"
"should," "intend," "may," "will," "would," "potential," and
similar expressions may be used to identify forward-looking
statements.
This press release is not an offer of securities for sale in the
United States. The securities of the Corporation referred to herein
have not been and will not be registered under the United States
Securities Act of 1933, as amended. Securities of the Corporation
may not be offered or sold in the United States absent registration
or an exemption from registration.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this press release.
Kingsway Arms Retirement Residences Inc.Mr. Dan AmadoriChair,
Board of Directors416-644-4361
Kingsway Arms Retirement Residen (TSXV:KWA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kingsway Arms Retirement Residen (TSXV:KWA)
Historical Stock Chart
From Jul 2023 to Jul 2024