Element Financial Corporation announces receipt for final prospectus for the
qualification of common shares underlying previously issued special warrants
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAW./
TORONTO, Feb. 5, 2013 /CNW/ - Element Financial Corporation (TSX: EFN)
("Element" or the "Company"), Canada's leading independent equipment finance
company, today announced that it has obtained a receipt from the Ontario
Securities Commission for its final short form prospectus (the "Prospectus")
filed in each of the Provinces of Canada. The Prospectus qualifies the
distribution of 19,500,000 common shares of the Company (the "Common Shares")
issuable upon the deemed exercise of 19,500,000 special warrants (the "Special
Warrants") previously issued by the Company. The Special Warrants were issued
on a private placement basis on November 23, 2012 pursuant to the terms of a
special warrant indenture, which entitles the holder of each Special Warrant
to receive, upon exercise or deemed exercise thereof, for no additional
consideration, one Common Share.
The Special Warrants will be deemed to be exercised on February 6, 2013.
Purchasers of Special Warrants should check with their broker to ensure the
underlying Common Shares have been properly credited to their account (U.S.
purchasers will receive definitive certificates). Following the exercise of
the Special Warrants, Element will have 102,541,999 Common Shares issued and
A copy of the Prospectus and Receipt are available on SEDAR under the
Company's profile at www.sedar.com.
About Element Financial Corporation
With total assets of approximately $1.5 billion, Element Financial Corporation
is one of North America's leading independent equipment finance companies.
Element operates across North America in three verticals of the equipment
finance market - Element Capital provides large ticket equipment leasing,
Element Finance serves the mid-ticket equipment finance market and Element
Fleet provides vehicle fleet leasing and management solutions through the
Company's TLS Fleet Management division.
Forward Looking Statements
This release includes forward-looking statements regarding Element and its
business. Such statements are based on the current expectations and views of
future events of Element's management. In some cases the forward-looking
statements can be identified by words or phrases such as "may", "will",
"expect", "plan", "anticipate", "intend", "potential", "estimate", "believe"
or the negative of these terms, or other similar expressions intended to
identify forward-looking statements. The forward-looking events and
circumstances discussed in this release may not occur and could differ
materially as a result of known and unknown risk factors and uncertainties
affecting Element, including risks regarding the equipment finance industry,
economic factors and many other factors beyond the control of Element. No
forward-looking statement can be guaranteed. Forward-looking statements and
information by their nature are based on assumptions and involve known and
unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statement or information. Accordingly,
readers should not place undue reliance on any forward-looking statements or
information. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are made
and Element undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events, or otherwise.
John Sadler Senior Vice President Corporate Affairs & Investor
Relations (416) 386-1067 ext. 313 email@example.com
Michel Béland Chief Financial Officer (416) 386-1067 ext. 225
SOURCE: Element Financial Corporation
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