MONTREAL, QUEBEC–(Marketwired – March 24, 2017) – Le Château Inc. (the “Company”) (TSX:CTU) announced today that it has submitted a listing application to the TSX Venture Exchange (“TSX-V”) in accordance with its streamlined listing procedures for companies transferring from the Toronto Stock Exchange (“TSX”) and the Company has requested to be voluntarily de-listed from the TSX. Le Château expects that the transition from the TSX to the TSX-V will be completed within 60 days in an efficient and seamless manner, with no interruption in the ability of shareholders and investors to trade shares of the Company. The Company will issue a subsequent news release in advance of its delisting from the TSX and the concurrent listing on the TSX-V.
Profile
Le Château is a leading Canadian brand in specialty retailing, offering a broad array of contemporary fashion apparel, accessories and footwear for style-conscious women and men. The Le Château brand is sold exclusively through the Company’s 183 retail stores located in Canada. The Company’s retail locations are primarily found in major urban shopping malls, as well as street-front locations with high pedestrian traffic. In addition, Le Château’s web-based marketing is further broadening the Company’s customer base among internet shoppers in both Canada and the United States. With its 57-year tradition of vertical integration, emphasizing a design and manufacturing approach to retailing, Le Château is unique among Canadian fashion merchants.
Forward-Looking Statements
This news release may contain forward-looking statements relating to the Company and/or the environment in which it operates that are based on the Company’s expectations, estimates and forecasts. More particularly and without limitation, this news release contains forward-looking statements and information concerning the delisting from the TSX and the concurrent listing on the TSX-V, which listing remains subject to the TSX-V approval. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond the Company’s control. A number of factors may cause actual outcomes and results to differ materially from those expressed. These factors also include those set forth in other public filings of the Company. Therefore, readers should not place undue reliance on these forward-looking statements. In addition, these forward-looking statements speak only as of the date made and the Company disavows any intention or obligation to update or revise any such statements as a result of any event, circumstance or otherwise except to the extent required under applicable securities law.
Factors which could cause actual results or events to differ materially from current expectations include, among other things: approval of the listing on the TSX-V, the credit facility renewal and other liquidity risks; the ability of the Company to successfully implement its business initiatives and whether such business initiatives will yield the expected benefits; competitive conditions in the businesses in which the Company participates; changes in consumer spending; general economic conditions and normal business uncertainty; seasonality and weather patterns; changes in the Company’s relationship with its suppliers; lease renewals; information technology security and loss of customer data; fluctuations in foreign currency exchange rates; interest rate fluctuations and changes in laws, rules and regulations applicable to the Company. There can be no assurance that borrowing will be available to the Company, or available on acceptable terms, in an amount sufficient to fund the Company’s needs or that additional financing will be provided by any of the controlling shareholders. The foregoing list of risk factors is not exhaustive and other factors could also adversely affect our results.
President
(514) 738-7000
Johnny Del Ciancio, CPA, CA,
Vice-President, Finance
(514) 738-7000
MaisonBrison:
Pierre Boucher
(514) 731-0000
Source:
Le Chateau Inc.