news? What's it all about Alfie? March 17, 2017
Shares Issued and Outstanding: 47,281,970
TSX-V: KDI
Kennady Forms Special Committee to Evaluate Strategic Alternatives
Toronto, Ontario: March 17, 2017 – Kennady Diamonds Inc. (“Kennady”, the “Company”) (TSX-V: KDI) today announced that the Board of Directors of the Company have formed a special committee of independent directors (the “Special Committee”) in response to discussions with certain interested parties regarding a potential strategic transaction. The Special Committee, with the assistance of Minvisory Corp. as its financial advisor and Fasken Martineau DuMoulin LLP as its legal advisor, and the Company will consider and evaluate various strategic alternatives to maximize shareholder value, including continuing to execute on its existing business plan.
While the Company considers all options available to it at this time, no formal offers have been received and no agreement has been reached with any third party regarding a potential strategic transaction.
The Company does not intend to make further comment in regards to this process except as required by applicable securities laws or the policies of the TSX Venture Exchange. No assurance can be given that any transaction will be announced. Furthermore, the Company cautions that there is no guarantee the Company’s discussions will result in a transaction or if a transaction is undertaken, as to its terms or timing.