NEW YORK, June 18, 2020 (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 LP”), announces further to the company’s press releases dated August 8, 2019, and January 23, 2020, that Vector Casa de Bolsa, S.A. de C.V. (“Vector”), has ratified the initial letter of intent. Investments will be made through a registered security of an authorized vehicle.
Vector currently has clients interested in investing their resources that potentially can subscribe indirectly through such a vehicle for up to $75 million of LP units issued by the Canadian LP, along with up to US$150 million of LP units issued by Woodfine Professional Centres II LP (the “American LP”) and up to 1,500 million pesos of Woodfine Professional Centres III LP (the “Mexican LP”), once prospectuses in respect of the initial public offerings of LP units in the American LP and the Mexican LP have been approved.
In return for attaining a target aggregate investment, the Parent Company will issue bonus shares to Vector, or the entity that Vector chooses, up to a maximum of 18% of issued capital on completion of the minimum closing determined for 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 referral fees of 6% in respect of the sale of units in the Canadian LP, 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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ce30a3c4-7b77-4ca7-a5b5-a6622e7c8485
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