MONTREAL, Nov. 14, 2012 /CNW Telbec/ - ACE Aviation Holdings Inc. (ACE)
announced today that it has sold to Cormark Securities Inc., as investment
dealer, a total of 31 million shares of Air Canada and 2.5 million warrants to
purchase Air Canada shares at exercise prices of $1.51 (1.25 million warrants)
and $1.44 (1.25 million warrants), for total net proceeds to ACE of
approximately $58 million. As a result, ACE no longer holds any shares or
warrants in the capital of Air Canada.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this news release may contain forward-looking
statements. Forward-looking statements may relate to analyses and other
information that are based on forecasts of future results and estimates of
amounts not yet determinable. These statements may involve, but are not
limited to, comments relating to strategies, expectations, planned operations
and future actions. These forward-looking statements are identified by the use
of terms and phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "project", "will", "would", and
similar terms and phrases, including references to assumptions.
Forward-looking statements, by their nature, are based on assumptions and are
subject to important risks and uncertainties. Any forecasts or forward-looking
predictions or statements cannot be relied upon due to, amongst other things,
changing external events and general uncertainties of the business. Actual
results may differ materially from results indicated in forward-looking
statements due to a number of factors, including without limitation, market,
regulatory developments or proceedings, and actions by third parties as well
as the factors identified throughout ACE's filings with securities regulators
in Canada and, in particular, those identified in the Risk Factors section of
ACE's 2011 Annual MD&A and Second Quarter 2012 MD&A. The forward-looking
statements contained in this news release represent ACE's expectations as of
the date they are made, and are subject to change after such date. However,
ACE disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except as required under applicable securities
Contact:David Saldanha, Ernst & Young Inc. (416) 943-4444
SOURCE: ACE AVIATION HOLDINGS INC.
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-0- Nov/14/2012 13:00 GMT
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