TORONTO, ONTARIO -- (Marketwired) -- 07/19/13 -- The Fox Hat Equities Ltd. (the "Investor") announced today that it has, in concert with several joint actors, exercised a Call Option to acquire 990,868 Common Shares in Park Lawn, at a price of $9.07 per share (the "Purchase Price"). The Call Option was contained in a Shareholders' Agreement dated July 4, 2011 among Frank Mills, Patricia Mills, the Frank and Patricia Mills Settlement, Larry Boland through his corporation Micasasuerte Inc. and Tom Falus through Team Capital Corporation (the "Mills/Boland Group"), and the Fox Hat Group. Under the terms of the Shareholders' Agreement, the Fox Hat Group has an option to purchase all of the remaining shares of the Mills/Boland Group at a price of 115% of the market value at the time the Call Option is exercised, but not to be less than $9.00 per share. The transaction is scheduled to close on or before July 31, 2013.
As a result of the acquisition, the Investor and the joint actors will hold approximately 40.4% of the outstanding common shares of Park Lawn. The Investor and the joint actors are acquiring these shares for investment purposes, and have no intention to increase their investment beyond current levels.
The shares of Park Lawn are listed on the TSX Venture Exchange.
The Investor's registered office is 181 University Ave., Ste 2100, Toronto, Ontario, M5H 3M7.
Contacts:
Dale & Lessmann LLP
Mr. David Clark
The solicitor for the Investor
416-369-7808
