Business
MCAN Mortgage Corporation announces final court order approval of arrangement
Stock market symbol  TSX: MKP  TORONTO , June 5, 2013 /CNW/ - MCAN Mortga...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n\n\nStock market symbol \nTSX: MKP \n\n\nTORONTO, June 5, 2013 /CNW/ - MCAN Mortgage Corporation (\"MCAN\" or the\n \"Company\") announced that further to its press releases dated March 26,\n 2013 and May 30, 2013 regarding the acquisition of all of the issued\n and outstanding common shares of  Xceed Mortgage Corporation (\"Xceed\")\n by way of a statutory plan of arrangement (the \"Arrangement\"), the\n Arrangement was approved today by a final order of the Ontario Superior\n Court of Justice (Commercial List).  \"This approval takes us one more\n fundamental step closer to completion of our transaction with Xceed,\"\n commented William Jandrisits, MCAN's Chief Executive Officer and\n President.\n\n\nIf all other conditions precedent to the Arrangement are satisfied or\n waived, including receipt of regulatory approvals, the Company expects\n that the Arrangement will be completed on or before July 4, 2013.\n\n\nFurther details relating to the Arrangement can be found in the press\n releases issued by the Company on March 26, 2013 and May 30, 2013 and\n the management proxy circular of Xceed dated April 23, 2013 which is\n available under Xceed's profile on SEDAR at www.sedar.com.\n\n\nForward-Looking Information \n\n\nThis press release may contain forward-looking statements, including\n statements regarding the proposed acquisition by MCAN of all of the\n issued and outstanding shares of Xceed.  These forward-looking\n statements can generally be identified as such because of the context\n of the statements and often include words such as MCAN \"believes\",\n \"anticipates\", \"expects\", \"plans\", \"estimates\" or words of a similar\n nature.  These statements are based on current expectations, and are\n subject to a number of risks and uncertainties that may cause  actual\n results to differ materially from those contemplated by the\n forward-looking statements.  Some of the factors that could cause such\n differences include legislative or regulatory developments,\n competition, technology change, global market activity, interest rates,\n changes in government and economic policy and general economic\n conditions in geographic areas where MCAN operates.  Reference is made\n to the risk factors disclosed in MCAN's Annual Information Form dated\n March 26, 2013 which are incor...