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World Kinect Corp V.INT


Primary Symbol: WKC

World Kinect Corporation is a global energy management company. The Company is engaged in offering fulfillment and related services across the aviation, marine, and land-based transportation sectors. It also supplies natural gas and power in the United States and Europe along with a suite of other sustainability-related products and services. Its segments include Aviation, Land and Marine. Its Aviation segment provides aviation-related service offerings, which include fuel management, price risk management, ground handling, 24/7 global dispatch services, and trip planning services, including flight planning and scheduling, weather reports and overflight permits. Its Land segment offers fuel, lubricants, heating oil, and related products and services to commercial, industrial, residential and government customers, as well as retail petroleum operators. Its Marine segment markets fuel, lubricants, and related products and services to a base of marine customers.


NYSE:WKC - Post by User

Bullboard Posts
Post by twebcaon Apr 27, 2012 12:19pm
122 Views
Post# 19844331

DD: CAPSTREAM MD&A, Subsequent event

DD: CAPSTREAM MD&A, Subsequent event

Proposed Transactions and Subsequent Events

1. On January 17, 2012, the Company completed a non-brokered private placement of

4,000,000 common shares at
.10 per share for gross proceeds of $400,000. On February

7, 2012, 450,000 of these shares were returned to treasury and the proceeds of $45,000

were refunded to the investor.

2. On February 29, 2012, 315,000 stock options were exercised at
.10 for proceeds of

$31,500.

3. Subsequent to year end the Company entered into a Letter of Intent (“LOI”) to complete

its Qualifying Transaction with Intertainment Media Inc. (“Intertainment”), whereby the

Company will acquire 100% of Ortsbo Inc. (“Ortsbo), a subsidiary of Intertainment (the

“Transaction”).

The Company and Intertainment entered into the LOI dated February 22, 2012, which

contemplates: (1) Capstream consolidating its share capital on a 14 for 1 basis; (2)

Capstream acquiring all of the issued and outstanding shares of Ortsbo (“Ortsbo Shares”) in

consideration for the issuance of 30,000,000 Capstream common shares (“Capstream

Shares”), on a post-consolidation basis, at a price of $7.00 per share, of which 20,100,000

Capstream Shares will be issued to Intertainment’s Ortsbo subsidiary security holders (67%

of the pre-financing value of Ortsbo), and the remaining 9,900,000 Capstream Shares will

be distributed to the security holders of Intertainment on a pro rata basis (33% of the prefinancing

value of Ortsbo).

In connection with the Transaction, the parties are investigating the process of listing the

common shares of the resulting entity on a senior exchange in Canada and a potential dual

listing on a senior exchange in the U.S. following the completion of the Transaction

Bullboard Posts