IC Capitalight Announces Commencement of Superior Offer for Stone Investment Group Limited Debentures

  • Offer Price of $770 per Debenture
  • Cash Offer for ALL Outstanding Debentures
  • Offer will be open until December 21, 2021
  • Capitalight urges holders of SIGL Debentures to REJECT the SIGL Offer

TORONTO, ON / ACCESSWIRE / December 10, 2021 / IC Capitalight Corp. (“Capitalight”) (CSE:IC) announced today that it is commencing a formal cash tender offer (the “Capitalight Offer”) to acquire all of the outstanding debentures (the “Debentures”) of Stone Investment Group Limited (“SIGL”), upon the terms and subject to the conditions set forth in the Offer to Purchase Circular dated as of December 10, 2021.

Pursuant to the terms of the Capitalight Offer, Debentureholders will receive CAD $770 for each Debenture that is tendered to the Capitalight Offer. The Capitalight Offer is open for acceptance until 5:00 p.m. (Toronto time) on December 21, 2021, unless the Capitalight Offer is extended or withdrawn.

The Capitalight Offer represents a $100 premium to SIGL’s own coercive offer for the Debentures announced on November 30, 2021 (the “SIGL Offer”). Debentureholders are encouraged to REJECT the SIGL Offer and only tender to the Capitalight Offer.

The Capitalight Offer is subject to a condition that at least 2,828 Debentures are deposited to its offer. Capitalight currently owns 2,599 Debentures, representing 21.7% of the outstanding Debentures. Capitalight has available cash plus financing commitments from directors, strategic partners and lenders to purchase Debentures that may be tendered to the Offer.

Debentureholders are encouraged to contact the Information Agent, Carson Proxy Advisors, by telephone North American toll free phone: 1-800-530-5189; outside North America – collect: 416-751-2066 or by email: info@carsonproxy.com for assistance in accepting the Capitalight Offer and in validly depositing Debentures.

About IC Capitalight Corp.

Capitalight operates as a merchant bank that pursues value-based investment opportunities through a portfolio of companies, securities and mineral properties. The securities investments consist primarily of SIGL Debentures. The Company’s business operations include Capitalight Research Inc., a wholly owned subsidiary that that publishes proprietary subscription research reports focused on the gold, silver and critical metals sectors, Canadian preferred shares, bonds and economics. The mineral exploration business consists of the Blue Lake Cu-Ni-Pt-Pd property near Schefferville, Quebec. To learn more about Capitalight please visit http://www.capitalight.co or contact us at: info@capitalight.co

Forward-Looking Information

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements.

Cautionary Statement Respecting the Proposed Offer

The Capitalight Offer Document contains important information about the Offer and should be read in its entirety by SIGL Debentureholders. A copy of the Offer Document is available, at no charge, under the profile of IC Capitalight Corp. on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. This announcement is for informational purposes only and does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any other solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for any security.

SOURCE: IC Capitalight Corp.

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