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TVI's 30.66% Owned TVIRD Files Preliminary Prospectus in Connection with a Proposed Initial Public Offering in the Philippines
TVI's 30.66% Owned TVIRD Files Preliminary Prospectus in Connection with a Proposed Initia...
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[{"type":"text","content":"\n\n\n\nTVI's 30.66% Owned TVIRD Files Preliminary Prospectus in Connection with a Proposed Initial Public Offering in the Philippines\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\nTVI's 30.66% Owned TVIRD Files Preliminary Prospectus in Connection with a Proposed Initial Public Offering in the Philippines\nCanada NewsWire\nCALGARY, Oct. 8, 2015\n\n\n\nTSX: TVI  OTCQB: TVIPF\n\n\n\n\nCALGARY, Oct. 8, 2015 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQB:TVIPF) (\"TVI\" or \"the Company\") announced today that TVI Resource Development (Phils.), Inc. (\"TVIRD\"), a company in which TVI has a 30.66% equity interest, has filed a preliminary prospectus (the \"Preliminary Prospectus\") with the Philippine Securities and Exchange Commission (the \"SEC\") and the Philippine Stock Exchange, Inc. (the \"PSE\") relating to a proposed Initial Public Offering of TVIRD shares in the Philippines (the \"IPO\").  Subject to registration with and approval by the SEC, and listing approval by the PSE, the IPO and listing of the TVIRD shares on the main board of the PSE are expected to be completed in mid-December 2015.\n\n\"The filing of the Preliminary Prospectus represents a major milestone in TVIRD's IPO process,\" stated Clifford James, Chairman and Chief Executive Officer of TVI and Chairman of TVIRD.  \"TVI Pacific continues to enthusiastically support the TVIRD IPO as we believe the establishment of a public market for TVIRD shares will allow North American investors to better evaluate the value of TVI's indirect investment in TVIRD.\"\n\n\"In addition, we expect that the secondary offer component of the IPO and the liquidity associated with a public listing will allow TVI to monetize portions of its TVIRD holdings which could provide us with an ongoing source of non-dilutive funding during a time when capital is difficult to raise for new project acquisition and development activities,\" concluded Mr. James.\n\nHighlights\n\n\nThe Preliminary Prospectus contemplates a primary offer of up to 272.02 million shares from the unissued capital stock of TVIRD (representing 10% of...