Shareholders of PrimeWest Mortgage Investment Corporation vote in favour of voluntary liquidation

Shareholders of PrimeWest Mortgage Investment Corporation vote in favour of voluntary liquidation

Canada NewsWire

SASKATOON, Sept. 25, 2019 /CNW/ - PrimeWest Mortgage Investment Corporation (“PrimeWest” or the “Corporation“) announced today that on September 24, 2019, the shareholders of the Corporation voted in favour of voluntarily liquidating and dissolving the Corporation and approved of the Plan of Liquidation and Dissolution set out in the Corporation’s Information Circular, which is available on SEDAR.  The effective date of the dissolution and distribution of proceeds to shareholders remain unknown and will ultimately be determined by the Court of Queen’s Bench for Saskatchewan.  Once known, the effective date and terms of dissolution will be announced in a subsequent press release.

About PrimeWest

PrimeWest was incorporated as a Mortgage Investment Corporation in 2005 and is based in Saskatoon, Saskatchewan. PrimeWest is a reporting issuer in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. The Corporation’s Class A common shares are listed for trading on the Canadian Securities Exchange under the symbol PRI: http://thecse.com/en/listings/diversified-industries/primewest-mortgage-investment-corporation

PrimeWest filings can be found on SEDAR at the following link:
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00025992

SOURCE PrimeWest Mortgage Investment Corporation

View original content: http://www.newswire.ca/en/releases/archive/September2019/25/c0076.html

WEQ Holdings Inc. (formerly WesternOne Inc.) Provides Update on Liquidation Proceedings

WEQ Holdings Inc. (formerly WesternOne Inc.) Provides Update on Liquidation Proceedings

Canada NewsWire

VANCOUVER, Sept. 24, 2019 /CNW/ - WEQ Holdings Inc. (formerly WesternOne Inc.) (“WEQ” or the “Corporation“) by The Bowra Group Inc. in its capacity as the Court-appointed liquidator of WEQ (the “Liquidator“), provides an update as to the liquidation proceedings.  As announced in its news release dated July 23, 2019, WEQ made an interim distribution pursuant to a Liquidation Plan dated December 17, 2018 (the “Plan“). The Plan was approved by the Supreme Court of British Columbia (the “Court“) pursuant to an Order dated December 17, 2018 (the “Liquidation Order“).

WEQ is continuing in its efforts to address remaining outstanding matters relating to its liquidation, including tax matters.  At this time, WEQ is not aware of the anticipated date of an additional distribution, if any, or the date of its dissolution.

The Plan, Liquidation Order and other materials filed in the Corporation’s liquidation proceedings can be found on the Liquidator’s website at: www.bowragroup.com.The Liquidator will continue to make available on its website additional information and updates on the status of WEQ’s liquidation proceedings, and disseminate a news release on at least a quarterly basis.

Forward-Looking Information

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable Canadian securities laws, which information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information is identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and similar terms and phrases, including references to assumptions. Such information includes, without limitation: the Liquidator continuing to make available on its website additional information and updates on the status of WEQ’s liquidation proceedings, and the Liquidator’s intention to disseminate a news release on at least a quarterly basis.

Although the forward-looking information contained in this news release is based upon what WEQ and the Liquidator believe to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information. Certain key expectations and assumptions made by the Corporation and the Liquidator and reflected in the forward-looking information in this news release include, without limitation:  there will be no intervening events that will materially reduce the amount funds for any additional distributions.

Forward-looking information reflects current expectations of WEQ regarding future events and operating performance as of the date of this news release. Such information involves significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information, including, without limitation: the risk that the any additional distribution will be less than anticipated; and the risk that the timing of any additional distribution will be delayed. Should any of the foregoing risks materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance, activities or achievements could vary materially from those expressed or implied by any forward-looking information contained in this news release. Readers are cautioned that the foregoing list of risks is not exhaustive. Additional information on these and other risk factors that could affect WEQ can be found under “Risk Factors” in its Annual Information Form dated March 27, 2018, its  Information Circular dated October 26, 2018 and its Management’s Discussion & Analysis dated November 6, 2018, all of which are available on SEDAR at www.sedar.com.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects WEQ’s current beliefs and is based on information currently available to it. The forward-looking information is made as of the date of this news release and WEQ assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

Additional Information

Additional information relating to WEQ and other public filings, is available on SEDAR at www.sedar.com or on WEQ’s website at www.weq.ca or on The Bowra Group Inc.’s website at www.bowragroup.com.

SOURCE WEQ Holdings Inc.

View original content: http://www.newswire.ca/en/releases/archive/September2019/24/c0563.html

CO2 solutions announces the filing of a notice of intention to make a proposal to its creditors under the Bankruptcy and Insolvency Act (Canada)

CO2 solutions announces the filing of a notice of intention to make a proposal to its creditors under the Bankruptcy and Insolvency Act (Canada)

Canada NewsWire

TSXV: CST

QUEBEC CITY, Sept. 16, 2019 /CNW Telbec/ – CO2 Solutions Inc. (TSXV: CST) (“CO2 Solutions” or the “‘Corporation”) announced today that it has filed a notice of intention to make a proposal (the “Notice”) pursuant to the provisions of Part III of the Bankruptcy and Insolvency Act (Canada). Pursuant to the Notice, Ernst and Young Inc. (“E&Y”) has been appointed as trustee and will assist CO2 Solutions in its restructuring efforts.

The filing of the Notice follows the review of the Corporation’s strategic alternatives by a committee of its board of directors formed of all the independent directors of the board (the ”Special Committee”), further to the announcement, on February 28, 2019, of significant cost overruns in connection with the completion of the CO2 capture unit located at the pulp mill of Resolute Forest Products in Saint-Félicien, Québec. At the recommendation of the Special Committee, the board of directors of the Corporation determined it would be in the best interest of the Corporation and all of its stakeholders for the Corporation to seek protection from its creditors, given the Corporation’s current financial position. While under protection, the Corporation, with the support of the Special Committee and under E&Y’s supervision, will continue with its efforts to pursue strategic alternatives. There can be no assurance that the strategic process will result in the realization of any specific transaction or agreement. The Corporation does not plan to make future comments about the status of this strategic process unless there are material developments.

Mr. Robert Manherz resigned from the Board of Directors of the Corporation in the context of the filing of the Notice because he is a significant secured creditor of the Corporation.

As a consequence of the filing, all recourses by the unsecured creditors of the Corporation will be stayed for an initial 30-day period (which may be extended by the Court), which will protect CO2 Solutions and its assets from claims from its creditors while it pursues its restructuring efforts.

About CO2 Solutions Inc.
CO2 Solutions is a Canadian Corporation and leading innovator in the field of enzyme-enabled carbon capture and has been actively working to develop and commercialize the technology for stationary sources of carbon pollution. CO2 Solutions’ technology lowers the cost barrier to Carbon Capture, Utilization and Sequestration and (CCUS), positioning it as a viable CO2 mitigation tool, as well as enabling industry to derive profitable new products from these emissions. CO2 Solutions has built an extensive patent portfolio covering the use of carbonic anhydrase, or analogues thereof, for the efficient post-combustion capture of carbon dioxide with low‐energy aqueous solvents. Further information can be found at www.co2solutions.com.

CO2 Solutions Forward-looking Statements
Certain statements in this news release may be forward-looking. These statements relate to future events and reflect the current assumptions and expectations of management. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “predicts”, “potential”, “targeted”, “plans”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or be achieved.

Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, (i) the outcome of the review process of all strategic alternatives available to the Corporation, (ii) the ability of the Corporation to submit a proposal acceptable to its creditors; (iii) the ability of the Corporation to continue its activities; (iv) the ability of the Corporation to secure additional funds, (v) general business and economic uncertainties, (vi) third party events and adverse market conditions and (vii) those risks set out in the Corporation’s public documents filed on SEDAR. The Corporation’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made. Consequently, all forward-looking statements made in this news release involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements.

Readers are cautioned not to place undue reliance on such forward-looking statements. CO2 Solutions undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE CO2 Solutions Inc.

View original content: http://www.newswire.ca/en/releases/archive/September2019/16/c9614.html