TORONTO, ONTARIO — (Marketwire) — 12/28/11 — Trilon International Inc. (“Trilon”) today announced that it has acquired and exercised a total of 1,939,000 rights (“Rights”) to subscribe for common shares (“Common Shares”) of Imvescor Restaurant Group Inc. (“Imvescor”) at a price of $0.44 per Common Share (the “Subscription Price”) in connection with Imvescor-s previously announced rights offering (October 21, 2011). Every Right entitles the holder thereof to acquire 3.6092048 Common Shares upon payment of the Subscription Price. The 6,998,248 Common Shares to be issued to Trilon pursuant to Trilon-s exercise of Rights are expected to be issued on or about December 29, 2011.
Following the closing of Imvescor-s rights offering, the 6,998,248 Common Shares will represent approximately 16.7% of the outstanding Common Shares. On a fully diluted basis, the 6,998,248 Common Shares will represent approximately 12.2% of the outstanding Common Shares.
The Rights were purchased pursuant to a privately negotiated transaction. The Common Shares will be issued from treasury upon the closing of Imvescor-s rights offering. The value of the consideration paid by Trilon was $1.00 in the aggregate for the Rights and $0.44 per Common Share.
Trilon acquired the Rights and will hold the Common Shares for investment purposes. Trilon will continue to review its investment alternatives and may acquire additional Common Shares or may, subject to applicable securities laws, sell the Common Shares in the open market or in privately negotiated transactions to one or more persons.
Trilon-s address is Cedar Court, 2nd Floor, Wildey Business Park, St. Michael, Barbados.
Note: This news release contains forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words “expected” and “will” and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward looking statements. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause Trilon-s investment in Imvescor-s equity to differ materially from the description of the investment expressed or implied by such forward-looking statements. Factors that could cause actual holdings to differ materially from those set forward in the forward looking statements include failure by Imvescor to satisfy the conditions of closing. Trilon undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Trilon International Inc.
Andrew Willis
SVP, Communications and Media
(416) 369-8236
(416) 363-2856 (FAX)