Business
ISG Capital Corporation provides update on Qualifying Transaction
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ TORONTO, Nov. ...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\nTHE U.S./\n\n\nTORONTO, Nov. 14 /CNW/ - ISG Capital Corporation (TSX-V: SUS.P) (the\n"Corporation") is pleased to provide a revised schedule for the completion of\nits qualifying transaction.\n\n\nAt a special meeting held on September 17, 2008 the Corporation received\nthe requisite approval of shareholders to acquire the building and lands\nlocated at 311 Ingersoll Road in Ingersoll, Ontario (the "QT Property") as its\nqualifying transaction (the "Qualifying Transaction"). A copy of the\nmanagement information circular sent to shareholders containing details of the\nQualifying Transaction and the property to be acquired is available online at\nwww.sedar.com.\n\n\nISG has been evaluating and testing CleanTech initiatives since receiving\nshareholder approval for the Qualifying Transaction. A series of initiatives\nhave been identified that will significantly reduce operating costs for the QT\nProperty and future acquisitions. "ISG is focused on identifying opportunistic\ninvestments where we can enhance real estate values and cash flows by\nselectively implementing CleanTech initiatives with attractive paybacks,"\nstated David Ogden, President and CEO of the Corporation. "Our goal is to\ncreate high performance buildings where tenants benefit from reduced occupancy\ncosts and enhanced worker productivity; a very attractive proposition in\ntoday's challenging economic conditions."\n\n\nThe Corporation continues to work towards satisfying all remaining\nclosing conditions for the Qualifying Transaction, including the previously\nannounced private placement. The Corporation currently expects to close the\nQualifying Transaction before the end of 2008.\n\n\nCompletion of the Qualifying Transaction is subject to a number of\nconditions, including but not limited to, TSXV acceptance and completion of\nthe proposed private placement. There can be no assurance that the proposed\nQualifying Transaction will be completed as proposed or at all.\n\n\nInvestors are cautioned that, except as disclosed in the management\ninformation circular, any information released or received with respect to the\nQualifying Transaction may not be accurate or complete and should not be\nrelied upon. Trading in the securities of...