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Share Name | Share Symbol | Market | Type |
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TSXV:CHQ | TSX Venture | Common Stock |
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Carrus Capital Corporation ("Carrus" or the "Company") (TSX VENTURE:CHQ) announced that its directors have authorized a $0.0592 per share special dividend be paid on the Class A common shares of Carrus to the shareholders of record as of March 27, 2012. The dividend will be paid on March 30, 2012 or as soon as practicable thereafter. The dividend will be paid by the transfer to shareholders of 0.296 of a common share of Solutions4CO2 Inc. ("S4CO2") for every Carrus common share held. Fractional S4CO2 common shares will not be transferred and disregarded. As previously announced by Carrus on January 9, 2012, the S4CO2 common shares to be transferred to Carrus shareholders under the dividend have been acquired by Carrus pursuant to the exercise of special warrants issued by S4CO2 ("Special Warrants") purchased by Carrus at a price of $0.20 per special warrant. In accordance with the agreement with S4CO2, Carrus completed the acquisition of a further 3,000,000 Special Warrants on March 15, 2012 at a price of $0.20 per special warrant. Accordingly, Carrus currently holds 3,270,000 Special Warrants, 2,000,000 Bonus Warrants and 4,230,000 S4CO2 common shares. Following the payment of the dividend and assuming the exercise of all of the Special Warrants and Bonus Warrants, Carrus will hold approximately 5.29 million S4CO2 common shares. Carrus may require that its transfer agent or cause a registered broker or dealer to sell all or part of the S4CO2 common shares that are to be transferred pursuant to the dividend in the market if Carrus has reason to believe that tax should be withheld or remitted to a taxation authority in respect of the dividend paid or payable in S4CO2 common shares or that payment of a dividend in S4CO2 common shares to any holder of Carrus common shares whose address on the books of Carrus is in a jurisdiction outside Canada might contravene the laws or regulations of such jurisdiction or subject Carrus to any penalty. In such case, Carrus will cause the sale proceeds (less any tax required to be withheld or deducted) to be paid to the applicable holders. Information on S4CO2 S4CO2 is a private Ontario company that has filed a prospectus to qualify the distribution of, among other things, Special Warrants and common shares issuable on exercise of Special Warrants. For more information regarding S4CO2, reference should be had to the prospectus, which should be available at www.sedar.com. Caution Concerning Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of applicable securities laws. Such statements may be identified by words such as "believe", "anticipate", "project", "expect", "intend" or other similar expressions, and include all statements which address events or developments that BioWest expects or anticipates may occur in the future. With respect to the forward-looking statements contained in this news release, we have made numerous assumptions regarding, among other things, the Company being able to ensure the uninterrupted trading of the Company's shares. Actual results or events could differ materially from the plans, intentions and expectations expressed or implied in any forward looking statements, including the underlying assumptions thereto, as a result of numerous risks, uncertainties and other factors including our ability to successfully transition out of the biotechnology industry and uncertainties which may not be described herein. Forward-looking statements are based on our current expectations and BioWest assumes no obligation to update such information to reflect later events or developments, except as required by applicable law.
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