TORONTO, Feb. 4, 2021 /CNW/ - Leon's Furniture
Limited ("LFL" or the "Company") (TSX: LNF), today
announced that pursuant to a Redemption Notice sent to holders in
January 2021, as of February 26, 2021, it will be redeeming its 3%
Convertible Unsecured Debentures due March
28, 2023, and will pay such debenture holders $1,000 for each $1,000 principal amount of the debentures plus
all accrued and unpaid interest thereon to, but excluding,
February 26, 2021. In
conjunction with the redemption of these debentures, LFL has also
requested that the debentures be delisted from the Toronto Stock
Exchange following February 26,
2021.
About Leon's Furniture Limited
Leon's Furniture Limited is the largest retailer of furniture,
appliances and electronics in Canada. Our retail banners include: Leon's;
The Brick; Brick Outlet; and The Brick Mattress Store. Finally,
with The Brick's Midnorthern Appliance banner alongside with Leon's
Appliance Canada banner, this makes the Company the country's
largest commercial retailer of appliances to builders, developers,
hotels and property management companies. The Company has 305
retail stores from coast to coast in Canada under various banners. The Company
operates three websites: leons.ca, thebrick.com and
furniture.ca.
Cautionary Statement
This press release may contain forward-looking statements that
are subject to known and unknown risks and uncertainties that could
cause actual results to vary materially from targeted results. Such
risks and uncertainties include those described in Leon's Furniture
Limited's periodic reports including the annual report or in the
filings made by Leon's Furniture Limited from time to time with
securities regulatory authorities. This News Release may include
certain "forward-looking statements" which are not comprised of
historical facts. Forward-looking statements include estimates and
statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would",
"will", or "plan". Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management's expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, the Company's
objectives, goals or future plans, and estimates of market
conditions. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to failure to identify beneficial business
opportunities, failure to convert the potential in the pursued
business opportunities to tangible benefits to the Company or its
shareholders, the ability of the Company to counteract the
potential impact of the COVID-19 coronavirus on factors relevant to
the Company's business, delays in obtaining or failures to obtain
required shareholder and TSX approvals, changes in equity markets,
inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects, and those risks set
out in the Company's public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
SOURCE Leon's Furniture Limited