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SML Southstone Minerals Limited

0.01
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Southstone Minerals Limited TSXV:SML TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.01 0.005 0.005 0 16:00:35

Penfold Capital Acquisition IV Corporation: Update on Proposed Qualifying Transaction with SLM Logistics Corporation

10/03/2012 9:45pm

Marketwired Canada


Penfold Capital Acquisition IV Corporation ("Penfold") (TSX VENTURE:PLD.P) is
pleased to provide this Press Release to its shareholders and members of the
public to update shareholders and others with respect to its proposed and
previously announced "qualifying transaction" with SLM Logistics Corporation
("SML").


Subject to TSX Venture Exchange ("TSXV") approval, Penfold intends on lending
SLM, on a fully secured basis, $150,000 in accordance with the rules of the TSXV
and subject to the approval of the board of directors of SLM and Penfold of the
proposed use of proceeds for the loan.


Sponsorship

Subject to completion of satisfactory due diligence and certain other
conditions, Northern Securities Inc. has agreed to act as sponsor in connection
with the transaction. An agreement to sponsor should not be construed as any
assurance with respect to the merits of the transaction or the likelihood of
completion.


About SLM

SLM was incorporated in Ontario in 2004 and is dedicated to manage consumer and
retail store returns, defective and problematic electronics to product end of
life management. SLM provides accountable management of returns from receiving
to end of life with quality assurance testing; factory servicing of returns;
resale of returns through non traditional channels; and recycling of non
saleable product to support a closed loop first tier distribution process. SLM
is unique in that it is able to fully recycle the non saleable returns it
receives thereby allowing customers' return processes to have a very low
environmental impact. SLM has had an independent Waste Audit Report completed
which shows SLM is able to achieve a waste diversion rate of 98.61%. This means
that companies working with SLM's processes are able to divert 98.61% of their
product from landfill sites.


SLM is currently working on rolling out this product offering to a number of
retailers to allow them to better capture the environmentally conscience
consumer. SLM currently operates only in Ontario.


The information included herein about SLM was provided to Penfold by SLM.

About Penfold

Penfold Capital is a private holding company. We invest in public and private
assets operating in telecommunications, clean technology, real estate and
financing services. We work with private and public company's developing and
implementing succession planning and completing strategic reviews. Penfold
Capital Acquisition IV Corp. is a CPC company founded by Penfold Capital
Corporation.


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release.


The information in this news release includes certain information and statements
about management's view of future events, expectations, plans and prospects that
constitute forward looking statements. These statements are based upon
assumptions that are subject to significant risks and uncertainties. Because of
these risks and uncertainties, and as a result of a variety of factors, the
actual results, expectations, achievements or performance may differ materially
from those anticipated and indicated by these forward looking statements.
Although SLM and Penfold believe that the expectations reflected in forward
looking statements are reasonable, they can give no assurances that the
expectations of any forward looking statements will prove to be correct. Except
as required by law, SLM and Penfold disclaim any intention and assume no
obligation to update or revise any forward looking statements to reflect actual
results, whether as a result of new information, future events, changes in
assumptions, changes in factors affecting such forward looking statements or
otherwise.


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