Clarke Inc. enters into voting support agreement for sale of Bonnett's Energy Corp.

About this update from Clarke Inc.

[{"type":"text","content":"\n\n\nHALIFAX, Sept. 24, 2013 /CNW/ - Clarke Inc. (\"Clarke\") (TSX: CKI,\n CKI.DB.A) is pleased to announce that it has entered into a voting\n support agreement with BEC Acquisition Ltd., a subsidiary of Mill City\n Capital L.P., (together, \"Mill City\") pursuant to which it has agreed\n to vote in favour of Mill City's proposed acquisition of Bonnett's\n Energy Corp. (\"Bonnett's\"). Clarke currently owns approximately 3.7\n million shares of Bonnett's representing approximately 25% of Bonnett's\n outstanding shares.\n\n\nAssuming the proposed transaction is completed in accordance with its\n terms, Clarke expects to receive approximately $25.9 million for its\n shares of Bonnett's.\n\n\nGeorge Armoyan, President and CEO, stated: \"We are pleased with the\n result of our investment in Bonnett's. The transaction value reinforces\n our belief that the public markets have undervalued many of the\n companies we own. We will continue to work to close these valuation\n gaps.\"\n\n\nClarke will review how to best deploy the sale proceeds, including\n making further investments in undervalued companies, reducing debt,\n paying a special dividend and/or repurchasing shares.\n\n\nAbout Clarke \n\n\nHalifax-based Clarke invests in a variety of private and publicly-traded\n businesses and participates actively where necessary to enhance\n performance and increase return. Clarke's securities trade on the\n Toronto Stock Exchange (CKI; CKI.DB.A); for more information about\n Clarke Inc., please visit our website at www.clarkeinc.com.\n\n\nNote on Forward-Looking Statements and Risks\nThis press release may contain or refer to certain forward-looking\n statements relating, but not limited to, Clarke's expectations,\n intentions, plans and beliefs with respect to Clarke. Often, but not\n always, forward-looking statements can be identified by the use of\n words such as \"plans\", \"expects\", \"is expected\", \"budget\", \"estimates\",\n \"forecasts\", \"intends\", \"anticipates\" or \"does not anticipate\", or\n \"believes\", or equivalents or variations, including negative\n variations, of such words and phrases, or state that certain actions,\n events or results, \"may\", \"could\", \"would\", \"should\", \"might\" or \"will\"\n be taken, occur or be achieved. Forward-looking statements include,\n without limitation, statements relating ...

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