Vancouver, BC / ACCESSWIRE / April 25, 2014 / 360 Capital Financial Services Group Inc., (CSE: TSZ) (the “Company”) announces the plan of arrangement (the “Arrangement”) with its three wholly owned subsidiaries – Atikin Investment Inc. (“Atikin”), CGSG Invesment Inc. (“CGSC”) and Plenus Investment Inc. (“Plenus” ) (collectively the “Subsidiaries”). Pursuant to the Arrangement, the Company will transfer the following assets to the Subsidiaries: a) all business plans, and contact information of potential business partners, investors and contractors in relation to the life insurance funding business and $1,000 to Atikin; b) all business plans and contact information of investors, contractors and consultants in relation to the business of foreign investments in Canada and $1,000 to CGSG; and c) all business plans and contact information of potential business partners, investors and contractors in relation to the business consulting services business and $1,000 to Plenus.
As a result of the Arrangement, the number of shares each Company’s shareholder will hold in Atikin, CGSG and Plenus will be equal to the number of Company’s shares held by the Company’s shareholder at of the date of record of May 23rd 2014. The Company will cover the costs associated with the Arrangement.
The Arrangement will have to be approved by a special resolution of the shareholders of the Company and by the Supreme Court of British Columbia, and will have to be filed with the Corporate Registry of British Columbia before it becomes effective.
The details of the Arrangement will be provided in the management information circular, which will be mailed to the shareholders of the Company and will be available on www.sedar.com under the Company’s profile.
About 360 Capital Financial Services Group Inc.
360 Capital, through its subsidiary business units, is developing, growing and operating insurance and financial services businesses and distribution through acquisition, partnership, joint-venture, and strategic alliance and cooperation – in Canada and Asia Pacific.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE: 360 Capital Financial Services Group Inc.