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TORONTO, Sept. 18 /CNW/ - ISG Capital Corporation (TSX-V: SUS.P) (the "Corporation") is pleased to announce today that its shareholders approved its proposed acquisition of 311 Ingersoll Road in Ingersoll, Ontario (the "Qualifying Transaction Property") as its qualifying transaction (the "Qualifying Transaction") at a special meeting of shareholders held on September 17, 2008 (the "Special Meeting"). The resolution approving the Qualifying Transaction was approved by the required "majority of the minority" of shareholders that cast votes at the Special Meeting.
A copy of the management information circular sent to shareholders in respect of the Special Meeting, containing details regarding the proposed Qualifying Transaction and the property to be acquired, is available online at www.sedar.com.
Assuming all conditions to closing are satisfied, including the completion of the Corporation's previously announced private placement, the Qualifying Transaction is expected to close in mid-October, 2008.
The Corporation is also pleased to announce that the Qualifying Transaction Property has received Building Owners Managers Association of Canada (BOMA) Go Green Certification. BOMA specifically developed this unique national certification program for existing buildings in order to recognize and reward environmental leadership within the real estate industry. "BOMA's certification is an excellent starting point. It is aligned with our mission which is to be the industry-leading real estate investment platform with an environmental and socially responsible approach to long-term value creation for all of our stakeholders" added David Ogden, ISG's President and CEO.
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and completion of the proposed private placement. There can be no assurance that the proposed Qualifying Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this press release. The TSXV does not accept responsibility for the adequacy or accuracy of this press release.