TORONTO, April 18, 2016 /CNW/ - GENTERRA CAPITAL INC.
("Genterra") would like to remind holders of shares of Genterra
Inc. and Consolidated Mercantile Incorporated of the upcoming
expiry date of the 2010 amalgamation sunset clause.
The May 10, 2016 expiry date for
the exchange of shares of Genterra Inc. and Consolidated Mercantile
Incorporated into shares of Genterra Capital Inc. (the "Expiry
Date") pursuant to the amalgamation of Genterra Inc. and
Consolidated Mercantile Incorporated on May
10, 2010 to form Genterra Capital Inc. (the "Amalgamation"),
is the sixth anniversary of the Amalgamation and the listing and
commencement of trading of the common shares of Genterra Capital
Inc. on the TSX Venture Exchange under the symbol "GIC".
Under the terms of the Amalgamation, the six year sunset clause
provision provides that any certificate which immediately before
the effective date of the Amalgamation represented Pre-Amalgamation
shares and which has not been surrendered on or before the Expiry
Date for exchange into Post-Amalgamation shares, will cease to
represent any claim against or interest of any kind or nature in
Genterra and the interest of such holder of Pre-Amalgamation shares
in Genterra shall be terminated without any repayment of capital or
any other compensation in respect thereof.
Effective October 26, 2015,
Genterra and its wholly-owned subsidiary Gencan Capital Inc.
("Gencan") completed a plan of arrangement (the "Arrangement"),
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 was spun-off as a public company and Genterra
became wholly-owned, directly and indirectly, by its control
group. As a result of this Arrangement, holders of shares of
Genterra Inc. and Consolidated Mercantile Incorporated who have not
yet surrendered for exchange into Post-Amalgamation shares their
share certificates which immediately before the effective date of
the Amalgamation represented Pre-Amalgamation shares are entitled
until the Expiry Date to surrender such certificates in exchange
for for cash and, subject to the number of Genterra Inc. and/or
Consolidated Mercantile Incorporated shares held, common shares of
Gencan.
To receive certificates and/or cash representing their shares of
Genterra Inc. or Consolidated Mercantile Incorporated, as the case
may be, registered shareholders of Genterra Inc. or Consolidated
Mercantile Incorporated must submit their share certificates,
together with completed letters of transmittal, to Genterra's
transfer agent, Computershare, 100 University Avenue, 9th Floor,
Toronto, ON M5J 2Y1 Attn:
Corporate Actions. Registered Genterra shareholders who have not
received letters of transmittal should contact Computershare at
1-800-564-6253.
Genterra Capital Inc. is a management and holding company whose
assets include rental real estate properties and investments.
SOURCE Genterra Capital Inc.