TORONTO, ONTARIO--(Marketwire - Aug. 23, 2012) - C.A. Bancorp Inc. ("C.A. Bancorp" or the "Company") (TSX:BKP) announces that Salbro Bottle Inc. and its related companies (collectively, "Salbro Bottle") have completed a substantial refinancing resulting in a repayment to C.A. Bancorp of approximately $2.0 million in principal and interest owing under debentures issued by Salbro Bottle in favour of the Company (the "Debentures").
Subsequent to the refinancing, $2.3 million remains outstanding to the Company under the Debentures. As a condition to the refinancing, the Company agreed to certain amendments to the Debentures including to extend the maturity date and to modify the terms of certain payment obligations to the Company. In addition to the Debentures, the Company's remaining interests in Salbro Bottle also include common share warrants.
Consistent with the Realization Strategy, the Company will seek alternatives to accelerate the monetization of its remaining interests in Salbro Bottle.
C.A. Bancorp Inc. C.A. Bancorp is a publicly traded Canadian merchant bank and alternative asset manager that provides investors with access to a range of private equity and other alternative asset class investment opportunities. C.A. Bancorp has historically focused on investments in small- and middle-capitalization public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors. The Company is currently executing its Realization Strategy as described in its publicly filed continuous disclosure documents.
This release may include certain forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue" or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will provide to be correct. These forward-looking statements are subject to a number of risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements. Reference should be made to the risk factors published in the Company's most recent management discussion and analysis and, with respect to the realization strategy, its directors circular, both of which are available at www.sedar.com.
|C.A. Bancorp Inc.
|401 Bay Street, Suite 1600
|Telephone: (416) 214-5985
|Fax: (416) 861-8166