VANCOUVER, Sept. 24, 2019 /CNW/ - WEQ Holdings Inc.
(formerly WesternOne Inc.) ("WEQ" or the
"Corporation") by The Bowra Group Inc. in its capacity as
the Court-appointed liquidator of WEQ (the "Liquidator"),
provides an update as to the liquidation proceedings. As
announced in its news release dated July 23,
2019, WEQ made an interim distribution pursuant to a
Liquidation Plan dated December 17,
2018 (the "Plan"). The Plan was approved by the Supreme
Court of British Columbia (the
"Court") pursuant to an Order dated December 17, 2018 (the "Liquidation
Order").
WEQ is continuing in its efforts to address remaining
outstanding matters relating to its liquidation, including tax
matters. At this time, WEQ is not aware of the anticipated
date of an additional distribution, if any, or the date of its
dissolution.
The Plan, Liquidation Order and other materials filed in the
Corporation's liquidation proceedings can be found on the
Liquidator's website at: www.bowragroup.com.The Liquidator will
continue to make available on its website additional information
and updates on the status of WEQ's liquidation proceedings, and
disseminate a news release on at least a quarterly basis.
Forward-Looking Information
Certain statements in this news release may constitute
"forward-looking information" within the meaning of applicable
Canadian securities laws, which information involves known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements or industry results, to
be materially different from any future results, performance or
achievements or industry results expressed or implied by such
forward-looking information. Forward-looking information is
identified by the use of terms and phrases such as "anticipate",
"believe", "could", "estimate", "expect", "intend", "may", "plan",
"predict", "project", "will", "would", and similar terms and
phrases, including references to assumptions. Such information
includes, without limitation: the Liquidator continuing to make
available on its website additional information and updates on the
status of WEQ's liquidation proceedings, and the Liquidator's
intention to disseminate a news release on at least a quarterly
basis.
Although the forward-looking information contained in this news
release is based upon what WEQ and the Liquidator believe to be
reasonable assumptions, it cannot assure investors that actual
results will be consistent with such information. Certain key
expectations and assumptions made by the Corporation and the
Liquidator and reflected in the forward-looking information in this
news release include, without limitation: there will be no
intervening events that will materially reduce the amount funds for
any additional distributions.
Forward-looking information reflects current expectations of WEQ
regarding future events and operating performance as of the date of
this news release. Such information involves significant risks and
uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking information,
including, without limitation: the risk that the any additional
distribution will be less than anticipated; and the risk that the
timing of any additional distribution will be delayed. Should any
of the foregoing risks materialize, or should assumptions
underlying the forward-looking information prove incorrect, actual
results, performance, activities or achievements could vary
materially from those expressed or implied by any forward-looking
information contained in this news release. Readers are cautioned
that the foregoing list of risks is not exhaustive. Additional
information on these and other risk factors that could affect WEQ
can be found under "Risk Factors" in its Annual Information Form
dated March 27, 2018, its
Information Circular dated October 26,
2018 and its Management's Discussion & Analysis dated
November 6, 2018, all of which are
available on SEDAR at www.sedar.com.
The forward-looking information contained herein is expressly
qualified in its entirety by this cautionary statement.
Forward-looking information reflects WEQ's current beliefs and is
based on information currently available to it. The forward-looking
information is made as of the date of this news release and WEQ
assumes no obligation to update or revise such information to
reflect new events or circumstances, except as may be required by
applicable law.
Additional Information
Additional information relating to WEQ and other public filings,
is available on SEDAR at www.sedar.com or on WEQ's website at
www.weq.ca or on The Bowra Group Inc.'s website at
www.bowragroup.com.
SOURCE WEQ Holdings Inc.