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Clarke Inc. announces additional investment in Terravest Capital Inc.
Clarke Inc. announces additional investment in Terravest Capital Inc. Clarke Inc. ...
About this update from Clarke Inc.
[{"type":"text","content":"\n\n\n\nClarke Inc. announces additional investment in Terravest Capital Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nClarke Inc. announces additional investment in Terravest Capital Inc.\nCanada NewsWire\nHALIFAX, May 24, 2016\n\n\n\nHALIFAX, May 24, 2016 /CNW/ - Clarke Inc. (\"Clarke\") (TSX: CKI) acquired 750,000 common shares of Terravest Capital Inc. (\"Terravest\") at a price of $6.00 per common share, representing 4.1% of the outstanding common shares of Terravest (based on the number of shares outstanding as disclosed in Terravest's most recent financial report). Immediately after the transaction, Clarke owns 5,750,000 common shares of Terravest representing 31.5% of the outstanding common shares.\n\nPursuant to the Securities Act (Ontario), Clarke is presumed to be acting jointly or in concert with Clarke Inc. Master Trust. On an aggregate basis, Clarke and Clarke Inc. Master Trust own, directly or indirectly, 5,750,000 common shares of Terravest and $4,190,000 principal value of Terravest 7.0% convertible debentures due June 2020. On an as-converted, aggregate basis, Clarke and Clarke Inc. Master Trust own, directly or indirectly, 6,257,879 shares representing approximately 33.4% of the partially-diluted outstanding common shares. Clarke expressly disclaims ownership of the common shares of Terravest owned by Clarke Inc. Master Trust.\n\nClarke purchased the securities for investment purposes. Clarke may, from time to time, purchase additional securities of Terravest, dispose of some or all of the existing or additional securities of Terravest, or continue to hold securities of Terravest in the normal course of Clarke's investment activities.\n\nAbout Clarke\n\nHalifax-based Clarke invests in a variety of private and publicly-traded businesses and participates actively where necessary to enhance the performance of such businesses and increase its return. Clarke's securities trade on the Toronto Stock Exchange (CKI). For more information about Clarke Inc., please visit our website at www.clarkeinc.com. \n\nNote on Forward-Looking Statements and RisksThis...