MONTREAL, QUEBEC -- (Marketwired) -- 06/19/17 -- On March 24, 2017, Le Chateau Inc. (TSX: CTU) ("Chateau" or the "Company") announced that it had 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"). Le Chateau is pleased to announce today that it has received conditional approval from the TSX-V to list its Class B Voting Shares on the TSX-V.
Final approval of listing on the TSX-V is subject to the Company satisfying certain customary conditions required by the TSX-V by no later than August 24, 2017. The Company expects that it will be able to satisfy all such conditions within such deadline and will provide an update once the TSX-V has issued a bulletin confirming the date on which trading on the TSX-V will commence. The Company's listing on the TSX-V will be coordinated with the delisting from the TSX such that there should be no interruption of trading of the Company's shares. Upon listing on the TSX-V, it is expected that the Company's shares will continue to trade under the symbol "CTU".
Le Chateau de Montreal is a leading Canadian specialty retailer and manufacturer of exclusively designed apparel, footwear and accessories for contemporary and style-conscious women and men, with an extensive network of 179 prime locations across Canada and a rapidly growing e-com platform servicing Canada and the U.S. Le Chateau, committed to research, design and product development, manufactures approximately 30% of the Company's apparel in its own Canadian production facilities.
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. 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: the ability of the Company to successfully implement its business initiatives and whether such business initiatives will yield the expected benefits; liquidity risks; 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 and the final approval of the listing of the Company's shares on the TSX-V. There can be no assurance that borrowings 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 of the Company. The foregoing list of risk factors is not exhaustive and other factors could also adversely affect our results.
Le Chateau Inc.
Emilia Di Raddo, CPA, CA
Johnny Del Ciancio, CPA, CA