/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION
OF U.S. SECURITIES LAW./
TORONTO, Aug. 14, 2013 /CNW/ - Element Financial Corporation (TSX:EFN)
("Element" or "the Company"), one of North America's leading
independent equipment finance companies, today announced that it has
obtained a receipt from the Ontario Securities Commission for its final
short form prospectus (the "Prospectus") filed in each of the Provinces
of Canada. The Prospectus qualifies the distribution of 29,612,500
common shares of the Company (the "Common Shares") issuable upon the
deemed exercise of 29,612,500 special warrants (the "Special Warrants")
previously issued by the Company. The Special Warrants were issued on a
private placement basis on June 18, 2013 pursuant to the terms of a
special warrant indenture, which entitles the holder of each Special
Warrant to receive, upon exercise or deemed exercise thereof, for no
additional consideration, one Common Share.
The Special Warrants will be deemed to be exercised on August 14, 2013.
Purchasers of Special Warrants should check with their broker to ensure
the underlying Common Shares have been properly credited to their
account (other than those to be issued to U.S. purchasers who will
receive definitive certificates). Following the exercise of the Special
Warrants, Element will have 155,328,441 Common Shares issued and
outstanding.
A copy of the Prospectus and Receipt are available on SEDAR under the
Company's profile at www.sedar.com.
About Element Financial Corporation
With total assets of approximately $2.5 billion, Element Financial
Corporation is one of North America's leading independent equipment
finance companies. Element operates across North America in three
verticals of the equipment finance market - Element Capital provides
large ticket equipment financing, Element Finance serves the mid-ticket
equipment finance market and Element Fleet provides vehicle fleet
leasing and management solutions.
Forward Looking Statements
This release includes forward-looking statements regarding Element and
its business. Such statements are based on the current expectations
and views of future events of Element's management. In some cases the
forward-looking statements can be identified by words or phrases such
as "may", "will", "expect", "plan", "anticipate", "intend",
"potential", "estimate", "believe" or the negative of these terms, or
other similar expressions intended to identify forward-looking
statements. The forward-looking events and circumstances discussed in
this release may not occur and could differ materially as a result of
known and unknown risk factors and uncertainties affecting Element,
including risks regarding the equipment finance industry, economic
factors and many other factors beyond the control of Element. No
forward-looking statement can be guaranteed. Forward-looking
statements and information by their nature are based on assumptions and
involve known and unknown risks, uncertainties and other factors which
may cause our actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statement or information. Accordingly, readers should
not place undue reliance on any forward-looking statements or
information. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and Element undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events, or otherwise.
SOURCE: Element Financial Corporation
