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Allen-Vanguard Corporation Announces Filing of Rights Offering Preliminary Short-Form Prospectus
OTTAWA, Jan. 27 /CNW Telbec/ - Allen-Vanguard Corporation (TSX: VRS) ("Allen-Vanguard" or the "Co...
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\nOTTAWA, Jan. 27 /CNW Telbec/ - Allen-Vanguard Corporation (TSX: VRS)\n("Allen-Vanguard" or the "Company") of Ottawa, Ontario, Canada is pleased to\nannounce the filing of a preliminary short form prospectus dated January 26,\n2009 in both official languages, in each of the provinces and territories of\nCanada in respect of the rights offering (the "Rights Offering") of\nsubscription receipts. The Rights Offering is subject to receipt of all\nregulatory approvals, including the approval of the Toronto Stock Exchange.\n\n\nThe record date, the expiry date, the size of the Rights Offering, and\nthe number of rights required to purchase one subscription receipt (the "Basic\nSubscription Privilege") will be determined after consultation with our\nshareholders and prior to the filing of the final prospectus. The Company will\nmake a further announcement with respect to these matters at the time of the\nfiling of the final prospectus. Holders of rights who fully exercise their\nrights under the Basic Subscription Privilege will be entitled to subscribe on\na pro rata basis for additional subscription receipts, if available, that were\nnot subscribed for by other holders of rights pursuant to their Basic\nSubscription Privilege, on or before the expiry date.\n\n\nAs previously announced, the Company and Tailwind Financial Inc.\n("Tailwind") have entered into an arrangement agreement (the "Arrangement\nAgreement") whereby, pursuant to a plan of arrangement, a wholly-owned\nsubsidiary of Tailwind will acquire all of the issued and outstanding common\nshares of the Company in exchange for shares of Tailwind. The Arrangement\nAgreement permits Allen-Vanguard to complete a rights offering of up to C$100\nmillion at a subscription price of C$0.285 per subscription receipt.\n\n\nForward looking statements\n\n\nThis press release may contain forward-looking statements, which reflect\nAllen-Vanguard and Tailwind's current expectations regarding future events,\nstrategy, expected performance and condition. Forward-looking statements\ninclude statements that are predictive in nature, that depend upon or refer to\nfuture events or conditions, or that include words such as "expects,"\n"anticipates," "plans," "believes," "estimates" o...