Business
SCOSS Capital Corp. announces proposed conversion to REIT
SCOSS Capital Corp. announces proposed conversion to REIT.
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\n\n\n\nTORONTO, April 28 /CNW/ - (TSXV: SCP.P) SCOSS Capital Corp. (\"SCOSS\" or\nthe \"Corporation\"), a capital pool company listed on the TSX Venture Exchange\n(the \"TSXV\"), announced today that its Board of Directors has approved in\nconcept the conversion of the Corporation to a real estate investment trust.\nSCOSS intends to present a conversion transaction to its shareholders for\napproval at a special meeting scheduled to be held on June 27, 2006, in\nToronto.\nAny conversion transaction will be subject to: (i) the Corporation\nobtaining TSXV approval for and completing its Qualifying Transaction\nannounced on April 4, 2006, (ii) final approval by the Board of Directors of\nthe Corporation, and (iii) SCOSS obtaining applicable regulatory, shareholder\nand other approvals.\n\nSCOSS Capital Corp.\n\nSCOSS is a capital pool company listed on the TSXV that has entered into\nan agreement to complete an acquisition that is intended to serve as its\nQualifying Transaction pursuant to the policies of the TSXV. Until the\ncompletion of its Qualifying Transaction, which is subject to the approval of\nthe TSXV, the Corporation will not commence commercial operations or have\nassets other than cash. The principal business of SCOSS consists of working\ntowards the completion of its proposed Qualifying Transaction and identifying\nand evaluating additional self-storage properties or ancillary businesses for\nfuture acquisition or investment.\n\nThis press release contains forward-looking statements. Often, but not\nalways, forward-looking statements can be identified by the use of words such\nas \"plans\", \"expects\" or \"does not expect\", \"is expected\", \"estimates\",\n\"intends\", \"anticipates\" or \"does not anticipate\", or \"believes\", or\nvariations of such words and phrases or state that certain actions, events or\nresults \"may\", \"could\", \"would\", \"might\" or \"will\" be taken, occur or be\nachieved. Forward-looking statements involve known and unknown risks,\nuncertainties and other factors which may cause the actual results,\nperformance or achievements of the Corporation to be materially different from\nany future results, performance or achievements expressed or implied by the\nforward-looking statements. Examples of such statements include the intention\nto complete the Qualifying Transaction of the Corpo...