Business
Scoss Capital Corp. confirms closing date for previously announced qualifying transaction
Scoss Capital Corp. confirms closing date for previously announced qualifying transaction.
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\n\n\n\nTORONTO, May 18 /CNW/ - (TSXV: SCP.P) SCOSS Capital Corp. (\"SCOSS\" or the\n\"Corporation\"), a capital pool company listed on the TSX Venture Exchange \n(the \"TSXV\"), confirmed today that its previously announced Qualifying\nTransaction is scheduled close on May 29, 2006.\nAs previously announced, the Qualifying Transaction of the Corporation\nwill consist of the acquisition of two self-storage properties located at 375\nMiddlefield Road and 345 Danforth Road, Toronto for an aggregate purchase\nprice of $8.05 million (subject to customary adjustments) and the concurrent\ncompletion of a private placement of up to 9 million common shares at a price\nof $0.50 per common share for gross proceeds of up to $4.5 million. Additional\ninformation concerning the Qualifying Transaction is available in the\nCorporation's Filing Statement, which was filed on SEDAR today in accordance\nwith the policies of the TSXV.\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 final\napproval of the TSXV, the Corporation will not commence commercial operations\nor have assets other than cash. The principal business of SCOSS consists of\nworking towards the completion of its proposed Qualifying Transaction and\nidentifying and evaluating additional self-storage properties or ancillary\nbusinesses for future acquisition or investment.\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...