ibi investorIn relation to the news of the proposed merger between the London Stock Exchangeand the TMX Group, IBI Corporation received the following letter from JohnMcCoach, President of the TSX Venture Exchange, which provides an importantoverview of the transaction:
"Earlier today, TMX Group and London StockExchange Group announced an agreement to combine Europe and Canada's leadingdiversified exchange groups in a merger of equals. The transaction is expectedto close in Q3, 2011, subject to regulatory and shareholder approvals.
"The announcement is significant and brings exciting possibilities forTSX Venture Exchange. However, until such time as the transaction closes, thereality for the coming months is "business as usual" and your listing on TSXVwill not be affected.
"After the merger we can expect some excitingopportunities to unfold for companies and securities listed on our exchange.Through this alliance your company will be at the doorstep of a tremendouslydeep, liquid and international pool of capital, including TSX and TSXV, combinedwith London Stock Exchange Group, AIM and Borsa Italiana.
"Each exchangewill operate under its own existing and highly recognized brand name. TSXV willalso enhance its position as the world's leading public venture capitalmarketplace and an important pillar of Canada's capital markets. In addition tomaintaining our offices across the country, Calgary and Vancouver will remain asjoint headquarters of our venture business. Additionally, in combination withLondon-based AIM, these centers will provide the merged group with globalleadership and expertise in serving small cap and early stage companies.
"Today, tomorrow and into the future, your company can continue to beproud of the words, "Listed on TSX Venture Exchange."
"Following themerger TSXV and our extended TMX Group family will be part of a leading andtruly international exchange group. Co-headquartered in Toronto and London, themerged company will have undeniable competitive advantages and wide breadth ofmarkets. With 20 trading markets across 2 continents, the group will spanequities, derivatives, fixed income and energy markets, and have enhancedpotential to develop new trading products and opportunities. The merger willposition TSXV to tap into a truly global network with broader reach and an evengreater depth of expertise to better serve our listed companies and issuers.
"We will continue to keep you informed as important milestones of themerger are reached in the coming months."
Commenting on the proposedmerger, IBI president and CEO, Gary A. Fitchett, said, "The proposed resultingexchange would be of great benefit to public companies in the mining and naturalresources/energy sectors, such as IBI Corporation, which is a listed company onthe TSX Venture Exchange. The merger would provide global reach, greater avenuesfor liquidity, and would encompass a group of existing and potential investorsin the UK and Europe who are recognized as having an affinity for investing inAfrican projects."
Mr. Fitchett also noted, "I am currently involved inefforts to raise financing which is needed for both the contemplated evolutionof IBI's affiliate gold-focused company Grey Crown Resources towards publiccompany status and which is also required for enabling IBI to fund theoperations and exploration inherent in the Company's uranium strategy forUganda. If the foregoing initiatives are successful, listings on the proposedmerged exchange would be a powerful instrument in helping to move IBI and GreyCrown forward."