Cadomin Capital Corporation Announces Intention to Dissolve

    




 /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE  UNITED STATES/ 

 CALGARY, Aug. 3, 2012 /CNW/ - Cadomin Capital Corporation (the "Corporation") announced today that it is seeking shareholder approval to wind up  its affairs and dissolve.  The board of directors of the Corporation  (the "Board") has decided to seek shareholder approval to proceed with the winding  up of the Corporation, the distribution of its net assets, after  providing for liabilities, contingencies and costs, and ultimately its  dissolution in the future. 

 The Corporation will be sending a notice of special meeting of  shareholders, an information circular and a form of proxy for a special  meeting of shareholders (the "Meeting") to be held on Friday, August 31, 2012 for purposes of voting on such  dissolution and wind-up. 

 At the Meeting the Corporation will request its shareholders to: (i)  approve the voluntary dissolution; (ii) appoint a liquidator for the  purpose of winding up the Corporation's affairs and distributing its  property; and (iii) authorize the Corporation to apply to obtain a  court order to expedite the winding up of the Corporation. 

 Upon receipt of all required regulatory and shareholder approvals, the  Corporation will proceed with the liquidation and dissolution of the  Corporation and will cease to conduct normal business operations,  except as may be required to wind up the business and affairs of the  Corporation.  It is intended that all current creditors of the  Corporation shall be repaid and that any remaining assets of the  Corporation shall be disposed of with the proceeds therefrom to be  distributed to shareholders of the Corporation on a pro rata basis in  accordance with their percentage ownership of the common shares of the  Corporation.  Management of the Corporation estimates that an aggregate  amount of approximately $40,000 will be available for distribution to  shareholders following payment of all accrued liabilities.  The  Corporation may also elect to apply for a court order to expedite the  winding up process.  The Corporation will be dissolved in accordance  with the Business Corporations Act (Ontario). 

 Further details will be disclosed in the information circular to be  mailed to the shareholders of the Corporation in August 2012. 

 Forward-Looking Statements 

 Certain statements in this release are forward-looking statements.   Forward-looking statements involve significant risks and  uncertainties.  A number of factors could cause actual results to  differ materially from the results discussed in the forward-looking  statements.  Although the forward-looking statements contained in this  release are based upon what Cadomin believes to be reasonable  assumptions, Cadomin cannot assure investors that actual results will  be consistent with these forward-looking statements.  These  forward-looking statements are made as of the date of this release and  Cadomin assumes no obligation to update or revise them to reflect new  events or circumstances.  

Cadomin Capital Corporation


CONTACT:  David McGoey, Chief Financial Officer, at [phone]. 


    

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