J.U.M. Capital Inc. Receives Shareholder Approval Of Its Purchase Of West 49 Inc.BURLINGTON, Ontario Burlington (2006 population 164,415) is a city located in the Golden Horseshoe, across Lake Ontario and Burlington Bay harbour from Hamilton, in Halton Region, Ontario, Canada. -- J.U.M. Capital Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :JUM JUM Journal of Ultrasound in Medicine ) ("JUM"), announced that its shareholders met on Wednesday, November 24, 2004 and overwhelmingly approved the acquisition (the "Acquisition") of all of the shares of West 49 Inc. ("West 49") with 99.9% of the votes being in favour of the resolution approving the transaction, which approval was majority of the minority approval pursuant to applicable securities laws. The shareholders of JUM also approved all other matters presented for approval at the meeting, as described in the management information circular Information Circular A document sent to shareholders outlining important matters to be discussed at the annual shareholders' meeting. Notes: Sent along with a proxy, the information circular may cover matters such as the election of the Board of Directors, possible prepared in connection with this shareholder meeting, which circular contains further details regarding these matters. Shareholders were also asked to vote on an amended Private Placement, which placement would be made at a price of at least $0.06 per share, rather than at $0.06, which resolution was also passed. Due to interest from potential investors, it is currently expected that the Private Placement will be made at a price of $0.065 per share and that approximately 189 million common shares will be issued to purchasers, an increase from the previously anticipated 133 million common shares. Completion of the Acquisition remains subject to a number of conditions, including: the receipt of required regulatory approvals; the closing of the private placement; the completion of mutually satisfactory due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. ; and the receipt of required consents on satisfactory terms. The Acquisition is expected to close on or about December 1, 2004. About West 49 Inc. West 49 is a retailer of moderately priced brand name and private label apparel, footwear and accessories to action sports enthusiasts with an emphasis on skateboarding skateboarding Form of recreation, popular among youths, in which a person rides standing balanced on a small board mounted on wheels. The skateboard first appeared in the early 1960s on paved areas along California beaches as a makeshift diversion for surfers when the ocean , snowboarding snowboarding: see under skiing. snowboarding Sport of sliding downhill over snow on a snowboard, a wide ski ridden in a surfing position. Derived from surfing and influenced also by skateboarding as well as skiing, snowboarding began to burgeon and surfing. West 49 is Canada's largest skateboard retailer. West 49 was established in 1995 and has grown from 3 stores to 55 stores, the majority of which are located in high traffic urban malls. Information in this news release that is not current or historical factual information may constitute forward-looking information. Implicit in Adj. 1. implicit in - in the nature of something though not readily apparent; "shortcomings inherent in our approach"; "an underlying meaning" underlying, inherent this information are assumptions that, although considered reasonable by JUM at the time of preparation, may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties and could differ materially from what is currently expected, and there can be no assurance that the acquisition of West 49 will be completed. J.U.M. Capital Inc. (TSX:JUM) |
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