Lakeside Provides Further Update on Non-Binding Transaction Proposal
January 22 2012 - 1:02PM
PR Newswire (Canada)
WELLAND, ON, Jan. 23, 2012 /CNW/ - Lakeside Steel Inc. ("Lakeside"
or the "Company") today announced that the extended period in which
the Company has agreed to negotiate exclusively with the potential
purchaser regarding an acquisition or similar transaction has been
extended until 9:00 a.m. on Tuesday, January 24, 2012 in order to
allow the parties to conclude their negotiations and finalize
definitive transaction agreements. The proposed acquisition remains
subject to certain conditions including the execution of a
definitive transaction agreement between the Company and the
purchaser as well as the execution of support agreements with
directors of the Company and certain significant shareholders.
There is no assurance that definitive transaction agreements will
be executed by the parties or that the proposed acquisition will be
consummated. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Lakeside Steel Inc. CONTACT: Ron Bedard
Ken Hunter President and Chief Operating Officer Chief Financial
OfficerLakeside Steel Inc. Lakeside Steel IncFAX: (905)735-9069
FAX: (905)735-9069e-mail: ron.bedard@lakesidesteelcorp.ca
e-mail:ken.hunter@lakesidesteelcorp.ca
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