Yahoo Finance Folkstone Capital Corp. Announces Transfer to NEX and Cancellation of Certain Seed Shares
TORONTO, ONTARIO / ACCESSWIRE / December 23, 2014 / Folkstone Capital Corp. (TSXV:FKS-P.V - News) (the "Corporation"), a Capital Pool Company ("CPC") pursuant to TSX Venture Exchange (the "Exchange") Policy 2.4 - Capital Pool Companies (the "CPC Policy"), was not able to complete its Qualifying Transaction (as defined in the CPC Policy) before the deadline of September 10, 2014. The Corporation further reports that prior to December 9, 2014 and extended deadline of December 16, 2014, it was required either to complete a Qualifying Transaction or to receive the approval of its shareholders for the transfer of its listing to the NEX.
As the Corporation has been unable to complete a Qualifying Transaction to date, the Corporation held its annual and special meeting of shareholders on December 8, 2014, at which time the Corporation received approval, exclusive of the votes of non-arm's length parties, to transfer its listing to the NEX. Additionally, the Corporation received approval from its shareholders to cancel an aggregate of 1,000,000 common shares of the Company purchased by non-arm's length parties to the Company and held in escrow, in accordance with the CPC Policy.
The Corporation further announces that it applied for a transfer of the listing of its shares to be reinstated on NEX and that the Exchange has advised that it has accepted the application and soon after the dissemination of this news release it would issue an Exchange bulletin. The trading symbol for the Corporation will change from "FKS.P" to "FKS.H".
About the Corporation
The Corporation is designated as a Capital Pool Company by the Exchange. The only business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with Exchange Policy 2.4 - Capital Pool Companies.
For further information please contact:
Folkstone Capital Corp.
Attention: Mario Miranda
Chief Financial Officer and Director
Toronto, Ontario
Telephone: + 1.905.467.5564
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Folkstone Capital Corp.
