CALGARY, Feb. 10, 2017 /CNW/ - Mosaic Capital
Corporation ("Mosaic") (TSX-V Symbols: M,
M.PR.B, M.DB and M.DB.A) is pleased to
announce that it has now completed the redemption of Mosaic's
outstanding 10% unsecured subordinated perpetual preferred
securities (the "10% Preferred Securities") and series A
preferred shares (the "Series A Shares") and the retraction
of Mosaic's outstanding series 1 private yield securities (the
"Private Yield Securities").
As previously announced in Mosaic's news release dated
January 9, 2017: (i) each 10%
Preferred Security has been redeemed for a cash payment of
$10.1096 for an aggregate redemption
cost of approximately $105.9 million;
(ii) each Series A Share has been redeemed for a cash payment of
$10.1096 for an aggregate redemption
cost of approximately $0.9 million;
and (iii) each Private Yield Security has been retracted for a cash
payment of $1,010.137 for an
aggregate retraction cost of approximately $26.8 million.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of
established businesses which span a diverse range of industries and
geographies. Mosaic's strategy is to create long-term value for its
shareholders through accretive acquisitions, long-term portfolio
ownership, sustained cash flows and organic portfolio
growth. Mosaic achieves its objectives by maintaining
financial discipline, acquiring businesses at attractive
valuations, performing extensive acquisition due diligence,
utilizing creative transaction structuring and working closely with
subsidiary businesses after acquisition.
Neither the 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.
SOURCE MOSAIC CAPITAL CORPORATION