NEW YORK, Aug. 08, 2019 (GLOBE NEWSWIRE) -- WOODFINE MANAGEMENT CORP., acting as agent for Woodfine Capital Projects Inc. (the “Parent Company”) and sub-agent for Woodfine Professional Centres Limited Partnership (the “Canadian Fund”), announces that Vector Casa de Bolsa, S.A. de C.V. (“Vector”), has accepted a non-binding proposal to collaborate, in order to evaluate and arrange for investors to make investments through “Certificados de Capital de Desarrollo” (“CKDs”) or any other vehicle authorized by the Mexican authorities, in (i) $10 million worth of LP units issued by the Canadian Fund, at $100 per unit, (ii) $3 million for 150,000 common shares issued by the Parent Company at $20 per share, and (iii) LP units issued by Woodfine Professional Centres II LP (the “US Fund”) and Woodfine Professional Centres III LP (the “Mexican Fund”), once prospectuses in respect of the initial public offerings of LP units in the US Fund and the Mexican Fund have been approved; (iv) or other assets established by the Parties.
In return for attaining the aggregate investment above, Vector will obtain the right of capital calls (“ROCCs”) from its clients or any other person in Mexico, to allot or attain up to US$25 million of LP units in the yet-to-be-formed US Fund and up to 500 million pesos of LP units in the yet-to-be-formed Mexican Fund.
The Parent Company will issue bonus shares to Vector, or the entity that Vector chooses, in three tranches equal to 6% of issued capital (maximum 18%) on completion of each of the investments above.
All references to currency in this release are to Canadian dollars and Mexican pesos unless otherwise stated.
Payable by the issuers are placement fees of 6% in respect of the sale of units in the Canadian Fund, and 10% in respect of the sale of shares in the Parent Company.
United States and other securities laws
The shares and units outlined in this release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy. There will be no sale of shares or units in any province, state, or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under applicable securities laws and regulations.
CONTACT FOR FURTHER INFORMATION:
Chief Operating Officer
Woodfine Management Corp.
7 World Trade Center, 46th Floor
250 Greenwich Street
New York, NY 10007
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