Business
CML HealthCare Income Fund Expresses Interest in Pursuing a Transaction to Acquire Medisys Health Group Income Fund
CML HealthCare Income Fund Expresses Interest in Pursuing a Transaction to Acquire Medisys Health Group Income Fund.
About this update from Christina Lake Cannabis Corp
[{"type":"text","content":"\n\n\n\nToronto Stock Exchange Symbol: CLC.UN\n\n\nMISSISSAUGA, ON, Aug. 24 /CNW/ - CML HealthCare Income Fund ("CML\nHealthCare") (TSX: CLC.UN) today announced it has notified the Board of\nTrustees of Medisys Health Group Income Fund (TSX: MHG.UN) ("Medisys") that it\nis strongly interested in pursuing a transaction involving Medisys, which may\ninclude an acquisition of its securities and assets, a merger or other\nmutually beneficial transaction. CML HealthCare holds units of Medisys.\n\n\nOn August 14, 2007, the Elman family, the significant holder of Medisys,\nannounced it had delivered a written proposal to the Board of Trustees of\nMedisys, through which Medisys would be taken private at a price of $7.00 net\nper unit, in cash. CML HealthCare believes the offer price of $7.00 per unit\nby the Elman family does not fully reflect the value of Medisys and the\nunderlying operating assets. CML HealthCare believes it can structure a\ntransaction whereby Medisys unitholders would receive superior value, at a\npremium to $7.00, that would provide either immediate liquidity and/or an\nopportunity to participate in the anticipated future growth of the combined\nentities. Any transaction involving Medisys would be subject to completion of\ndue diligence, definitive documentation and customary conditions and\napprovals.\n\n\nCaution concerning forward-looking statements\n\n\n---------------------------------------------\n\n\nStatements made in this news release, other than those concerning\nhistorical financial information, may be forward-looking and therefore subject\nto various risks and uncertainties. Some forward-looking statements may be\nidentified by words like "may", "will", "anticipate", "estimate", "expect",\n"intend", or "continue" or the negative thereof or similar variations. Readers\nare cautioned not to place undue reliance on such statements, as actual\nresults may differ materially from those expressed or implied in such\nstatements. Factors that could cause results to vary include, but are not\nlimited to: dependence on government-based revenues; pending and proposed\nlegislative or regulatory developments including the impact of changes in\nlaws, regulations and the enforcement thereof; intensifying competition from\nestabli...