The board of directors of RONA, after consultation with its financial and legal advisors, has unanimously approved the transaction and has resolved to unanimously recommend that holders of the Preferred Shares (the "Preferred Shareholders") vote in favour of the transaction at a meeting of Preferred Shareholders to be held to consider the transaction.
The transaction is subject to court approval and the requisite approval of the Preferred Shareholders. Assuming the required approvals are received, the transaction is expected to be consummated before the end of the year.
The terms and conditions of the transaction will be disclosed in further detail in the information circular to be mailed to Preferred Shareholders in advance of their meeting to approve the transaction. In addition, a copy of the definitive agreement and the information circular and certain related documents will be filed with the Canadian securities regulatory authorities and will be available under RONA's profile at www.sedar.com.
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About RONA inc.
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Forward-Looking Statements
This news release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulation, including those regarding the transaction. Statements including words such as "may", "will", "could", "should", "would", "plan", "potential", "intend", "anticipate", "believe", "estimate" or "expect" and other words, terms and phrases of similar meaning are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Such forward-looking statements include, but are not limited to, the expected timing of completion of the transaction and the ability to receive the required court and shareholder approvals. Although we believe that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, we can give no assurance that such statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to the possibility that the transaction will be rejected by the Preferred Shareholders; the possibility that even if the transaction is approved by the Preferred Shareholders, the transaction will not close or that the closing may be delayed; and the failure to obtain and the timing to obtain court approval for the transaction. For more information about risks and uncertainties that
The forward-looking statements contained in this news release are expressly qualified in their entirety by the foregoing cautionary statements. All such forward-looking statements are based upon data available as of the date of this release or other specified date and speak only as of such date. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf about any of the matters covered in this release are qualified by these cautionary statements and in the "Risk Factors" included in
NO OFFER OR SOLICITATION
This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell RONA securities.
Contacts: Shareholder/Analyst Inquiries:Tiffany Mason SVP Corporate Finance & Treasurer 704-758-2033 [email protected] Media Inquiries:Canada Valerie Gonzalo Communications and Public Affairs 514.599.5900 ext. 5271 [email protected]U.S. Connie Bryant Director, Public Relations 704-758-2403 [email protected]
Source: RONA INC. and