SYMBOL: HIS (TSXV)
www.hartstores.com
LAVAL, QC, Jan. 13, 2015 /CNW Telbec/ - Hart Stores
Inc. (TSXV: HIS) announces that Mr. Robert
Farah, its President and Chief Operating Officer, has
resigned from the Company effective immediately. Mr. Farah has
served as President and Chief Operation Officer since 2011. The
Company would like to thank Mr. Farah for his significant
contribution to the Company. Mr. Farah will be available on a
consulting basis.
Pending the previously-announced proposed sale of the Company to
9102221 Canada Inc., a newly-incorporated corporation owned by a
third party at arm's-length from Hart Stores, Mr. Harry Hart will continue as Executive Chairman
and Chief Executive Officer of Hart Stores.
About Hart Stores Inc.:
Hart Stores Inc. operates a network of 61 mid-sized department
stores located in secondary and tertiary markets in Eastern Canada, where the Company has
established a dominant position in many of the communities that it
serves. The stores offer an extensive and differentiated selection
of national and exclusive fashion apparel brands as well as family
footwear, home furnishings, electronics, appliances, giftware, toys
and seasonal goods.
FORWARD-LOOKING STATEMENTS
Certain statements included in this news release may constitute
"forward-looking statements" within the meaning of the Canadian
securities legislation and regulations. Such forward-looking
statements involve assumptions, known and unknown risks,
uncertainties and other factors that may affect our ability to
implement our strategies and plans, which could cause actual
results to differ materially from future results expressed or
implied by such forward-looking statements. You should not
place undue reliance on these forward-looking statements, which are
made only as of the date of this press release. In
particular, the timing and completion of the proposed Amalgamation
are subject to certain conditions, termination rights and other
risks and uncertainties. Accordingly, there can be no
assurance that the proposed Amalgamation will occur, or that it
will occur on the timetable or on the terms and conditions
contemplated. We refer you to the Company's filing with the
Canadian securities regulatory authorities for a discussion of
other factors and risks that may affect the Company's future
results.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the release.
SOURCE Hart Stores Inc.