TORONTO, Oct. 28, 2015 /CNW/ - Genterra Capital Inc.
(GIC – TSX-V) ("Genterra") and Gencan Capital Inc.
("Gencan") are pleased to announce the successful completion of the
previously announced plan of arrangement (the "Arrangement")
involving Genterra and Gencan (formerly known as Genterra Energy
Inc.), whereby the Genterra common shares held by its shareholders,
other than "interested parties", were exchanged for cash and,
subject to the number of Genterra common shares held, common shares
of Gencan. As a result, Gencan has been spun-off as a public
company and Genterra has become wholly-owned, directly and
indirectly, by its current control group comprised of its Chairman,
Fred A. Litwin, and members of his
family.
In accordance with the provisions of letters of transmittal
previously provided to shareholders of Genterra, cash payment and,
for holders of 500 or more common shares of Genterra, share
certificates for shares of Gencan are now issuable to shareholders
against exchange with Computershare, at its principal transfer
agency in Toronto, of their
certificates representing shares of Genterra.
The common shares of Gencan will commence trading under the
stock symbol "GCA", at the commencement of trading on the Canadian
Securities Exchange on October 30,
2015.The common shares of Genterra will be delisted from The TSX
Venture Exchange effective at the open of trading on October 30, 2015.
About Gencan Capital Inc. (formerly Genterra Energy
Inc.)
Gencan Capital is currently a wholly-owned subsidiary of
Genterra and conducts Genterra's solar energy operations. Gencan
Capital's primary asset is its significant interest in a Renewable
Power Solar Rooftop Photovoltaic System. Since August 2014, Gencan Capital has engaged in the
business of solar energy generation and installation of solar
energy generation equipment under a Feed-In-Tariff Contract with
the Ontario Power Authority.
About Genterra Capital Inc.
Genterra Capital Inc. is a Canadian management holding company
operating in Canada with interests
in rental real estate properties and solar energy generation
equipment located in Ontario,
Canada. The Company also invests a portion of its surplus
cash on hand in marketable securities and notes receivable.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Genterra Capital Inc.