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MONTREAL, Dec. 12, 2014 /CNW Telbec/ - OneCap
Investment Corporation (TSXV: OIC.P) ("OneCap" or the
"Corporation"), a capital pool company as defined under
Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange
(the "TSXV"), announces the transfer of its listing to the
NEX Board of the Exchange (the "NEX") effective December 16, 2014.
The deadline for OneCap to complete its Qualifying Transaction
(as defined in the CPC Policy) was September
12, 2014. As the Corporation has been unable to complete a
Qualifying Transaction to date pursuant to the CPC Policy, it
received written approval by a majority of its shareholders,
excluding its directors, to transfer its listing to the NEX and to
cancel 1,000,000 Seed Shares (as defined by the Exchange) held
directly or indirectly by the directors: Jean Desmarais, Daniel
Dorey, Pierre Albert Jean,
Jean-Guy Lambert, Pierre Bonin and Pierre
Setlakwe.
As of December 16, 2014, the
trading symbol for the Corporation will change from "OIC.P" to
"OIC.H". The executive of OneCap continues to work diligently to
fund the acquisition of a 50% share in the Winnipeg Data Centre
project (its projected "Qualifying Transaction").
Please see the Corporation's press release of April 29, 2014 for details of the Qualifying
Transaction. Additional updates will be provided as they become
available. Trading of the shares of OneCap will remain suspended
pending completion of the Qualifying Transaction.
The Corporation's common shares (the "Common Shares")
commenced trading on the TSXV on September
12, 2012. On January 24, 2013,
the Common Shares were halted at the request of the Corporation
pending an announcement. They remained halted pending receipt
and review of acceptable documentation regarding the Qualifying
Transaction pursuant to TSXV Listing Policy 2.4 until
September 15, 2014 when they were suspended from trading for
failure to complete the Qualifying Transaction within 24 months
from listing.
Completion of the Qualifying Transaction is subject to a
number of conditions, including but not limited to, Exchange
acceptance and if applicable pursuant to Exchange Requirements,
majority of the minority shareholder approval. Where applicable,
the Qualifying Transaction cannot close until the required
shareholder approval is obtained. There can be no assurance that
the Qualifying Transaction will be completed as proposed or at
all.
Investors are cautioned that, except as disclosed in the
management information circular or filing statement to be prepared
in connection with the Qualifying Transaction, any information
released or received with respect to the Qualifying 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 TSX Venture Exchange Inc. has in no way passed upon the
merits of the proposed Qualifying Transaction and has neither
approved nor disapproved the contents of this press
release.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE OneCap Investment Corporation