ComWest Enterprise Announces Conditional Approval of Change in Business and Dividend
May 27 2011 - 2:48PM
Marketwired
ComWest Enterprise Corp. (TSX VENTURE: CWP)(TSX VENTURE: CWP.A)
(the "Company") is pleased to announce that it has received
disinterested shareholder approval to its previously announced and
completed change of business transaction whereby the Company
acquired a 90% interest in a Winnipeg-based garment manufacturing
business. The shares of the Company are expected to remain halted
until such time as the Company obtains final approval of the
Exchange to the change of business.
The board of directors of the Company has declared a cash
dividend of $0.02 per share, payable to shareholders of record on
June 8, 2011. The dividend will be paid on or about June 15, 2011.
Both holders of Class A Restricted Equity Shares and Class B Common
Shares will be entitled to the dividend. All dividends declared by
the Company are designated as eligible dividends.
ON BEHALF OF THE BOARD
Douglas F. Good, President
Forward-Looking Statements
This news release contains forward-looking statements regarding
the future success of the business of the Company that is subject
to risk and uncertainties. Examples of such forward-looking
statements include, but are not limited to, statements concerning
the Corporation's acquisition of an operating business and the
Corporation's intention to pay dividends. These forward-looking
statements involve known and unknown risk and uncertainties that
may cause the Company's actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied in these forward-looking
statements. These risks include risks related to dependence on key
personnel, competition, risks related to newly acquired businesses,
uncertainty and dilution of additional financing and ability to
service debt, as well as the risk factors described in the
Corporation's Management Discussion and Analysis filed on SEDAR at
www.sedar.com, and the risks described in the Management
Information Circular dated April 26, 2011 prepared in connection
with the transaction. The forward-looking statements contained
herein are made as of the date of this Circular and are expressly
qualified in their entirety by this cautionary statement. Except as
required by law, the Company undertakes no obligation to publicly
update or revise any such forward-looking statements to reflect any
change in its expectations or in events, conditions or
circumstances on which any such forward-looking statements may be
based, or that may affect the likelihood that actual results will
differ from those set forth in the forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release.
Contacts: ComWest Enterprise Corp. Investor Relations 780 370
1725 dgood@comwestenterprise.ca