Quest Capital Corp.: Another Major Shareholder Declares Intention Regarding Substantial Issuer Bid
August 17 2010 - 8:30AM
Marketwired
Quest Capital Corp. ("Quest" or the "Company") (TSX: QC)(NYSE Amex:
QCC) announced today that another of its largest shareholders,
Dundee Corporation, has notified the Company that will not be
tendering any shares to the Substantial Issuer Bid (the "Offer")
that expires on Monday, August 30, 2010 as more fully described in
press releases dated June 10 and July 22.
Dundee Corporation holds 15,483,334 shares in Quest or 11.1% of
the Company's issued and outstanding common shares.
Ned Goodman, President and CEO of Dundee commented, "We are
delighted with Quest's return to its original focus of lending to
the resource sector and we look forward to a continuing
relationship with Quest, Peter Grosskopf the new CEO, and
Sprott."
The Offer expires at 5:00 p.m. (Toronto time) on August 30, 2010
and is not conditional upon any minimum number of common shares
being tendered. Shareholders may choose to participate in the Offer
at any amount or not all and generally, unless subject to blackout
or other restrictions under applicable law, are not precluded from
buying or selling common shares in the open market during this
time. The terms of the Offer are set out in a circular dated July
19, 2010 and related documentation which have been sent to Quest's
shareholders and to which shareholders should refer for further
details regarding the Offer.
ABOUT QUEST
Quest is currently a publicly traded mortgage investment
corporation. As a natural resource lender, Quest will ultimately
cease to be a mortgage investment corporation. Accordingly, Quest
will provide further guidance as to its ability or intention to
remain a mortgage investment corporation for the remainder of the
current fiscal year.
Circulars and other documents relating to the substantial issuer
bid have been sent to shareholders and are available on the
Company's website under the headings "Substantial Issuer Bid" or
alternatively, at www.sedar.com or www.sec.gov.
For more information about Quest, please visit our website
(www.questcapcorp.com) or www.sedar.com.
Forward Looking Statements
This press release may include certain statements that
constitute "forward-looking statements", and "forward-looking
information" within the meaning of applicable securities laws
("forward-looking statements" and "forward-looking information" are
collectively referred to as "forward-looking statements", unless
otherwise stated). Such forward-looking statements involve known
and unknown risks and uncertainties that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by such forward looking statements. Forward-looking
statements may relate to the Company's future outlook and
anticipated events or results and may include statements regarding
the Company's future financial position, business strategy,
budgets, litigation, projected costs, financial results, taxes,
plans and objectives. We have based these forward-looking
statements largely on our current expectations and projections
about future events and financial trends affecting the financial
condition of our business.
These forward looking statements were derived utilizing numerous
assumptions regarding expected growth, results of operations,
performance and business prospects and opportunities that could
cause our actual results to differ materially from those in the
forward-looking statements. While the Company considers these
assumptions to be reasonable, based on information currently
available, they may prove to be incorrect. Forward-looking
statements should not be read as a guarantee of future performance
or results. Forward-looking statements are based on information
available at the time those statements are made and/or management's
good faith belief as of that time with respect to future events,
and are subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward looking statements. To the extent any
forward-looking statements constitute future-oriented financial
information or financial outlooks, as those terms are defined under
applicable Canadian securities laws, such statements are being
provided to describe the current potential of the Company and
readers are cautioned that these statements may not be appropriate
for any other purpose, including investment decisions.
Forward-looking statements speak only as of the date those
statements are made. Except as required by applicable law, we
assume no obligation to update or to publicly announce the results
of any change to any forward-looking statement contained or
incorporated by reference herein to reflect actual results, future
events or developments, changes in assumptions or changes in other
factors affecting the forward looking statements. If we update any
one or more forward-looking statements, no inference should be
drawn that we will make additional updates with respect to those or
other forward-looking statements. You should not place undue
importance on forward-looking statements and should not rely upon
these statements as of any other date. All forward-looking
statements contained in this press release are expressly qualified
in their entirety by this cautionary notice.
Contacts: Quest Capital Corp. A. Murray Sinclair Chairman (800)
318-3094 or (604) 687-8378 Quest Capital Corp. Jim Grosdanis CFO
(800) 318-3094 or (604) 687-8378 (604) 682-3941 (FAX)
www.questcapcorp.com
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