Taiga Announces Sale and Leaseback Transaction

About this update from Taiga Building Products Ltd.

[{"type":"text","content":"\n\n\nBURNABY, BC, Nov. 29, 2013 /CNW/ - Taiga Building Products Ltd. (TSX:\n TBL & TBL.NT), (\"Taiga\" or the \"Company\") announces that it has signed\n an agreement with Korite Capital Corporation for the sale and leaseback\n of five of Taiga's distribution facilities for an aggregate purchase\n price of $20,000,000, subject to customary conveyancing adjustments. \n The agreement provides that, upon closing, Taiga will lease each of\n these facilities from the purchaser for an initial period of 20 years. \n Closing is subject to certain customary conditions for transactions of\n this nature including purchaser financing and due diligence.\n\n\nThe completion of the transaction is expected to occur in February\n 2014.  Net proceeds are expected to be used for strategic and/or\n general corporate purposes.\n\n\nForward-Looking Information\n\n\nThis news release contains forward-looking information that reflects the\n current views and/or expectations of Taiga with respect to its\n performance, business and future events, including statements relating\n to the timing and expected completion of the sale and leaseback\n transaction with Korite Capital Corporation and expected use of\n proceeds derived therefrom. Forward-looking information is based on the\n then-current expectations, beliefs, assumptions, estimates and\n forecasts about the business and the industry and markets in which the\n Company operates, including assumptions relating to the ability of the\n Company and the purchaser to satisfy the conditions required in order\n to complete the sale and leaseback transaction and all related lease\n arrangements, including that the purchaser will waive all subject\n conditions in order to proceed with closing. Forward-looking\n information does not guarantee future performance and involves risks,\n uncertainties and assumptions which are difficult to predict. Investors\n are cautioned that all forward-looking information involves risks and\n uncertainties including, without limitation, that the purchaser will\n not waive subjects within the timeframe specified in the purchase and\n sale agreement or at all, that other conditions to closing the\n transaction will not be satisfied and that the Company will be unable\n to complete the transaction; the Company will be required to alter its\n use of proceeds dep...

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