C2C Industrial Properties Inc. Share Consolidation

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TORONTO, April 10, 2012 /CNW/ - C2C Industrial Properties Inc. (the "Company" or "C2C") (TSXV: CCH) announced today that it has determined to proceed with the proposed consolidation of its common shares previously approved at the Special Meeting of Shareholders held on November 10, 2011. The proposed consolidation of the Company's issued and outstanding common shares will be completed on April 11, 2012, subject to applicable regulatory approvals, on the basis of one (1) post-consolidation share for every twenty-five (25) pre-consolidation shares.

The Company's issued capital will be altered by consolidating all of the 307,324,505 currently issued common shares into 12,292,980 common shares (as at the date of this release). The exercise price and the number of common shares issuable under any of the Company's outstanding warrants and stock options will be proportionately adjusted upon consolidation.

No fractional common shares will be issued pursuant to the share consolidation. In lieu of any such fractional securities, each registered shareholder of the Company otherwise entitled to a fractional interest in a post-consolidation common share will receive the nearest whole number of post-consolidation common shares. For greater certainty, any fractional interest representing less than 0.5 of a post-consolidation common share will not entitle the holder thereof to receive a post-consolidation common share and any fractional interest representing 0.5 or more of a post-consolidation common share will entitle the holder thereof to receive one whole post-consolidation common share. No cash will be paid in lieu of fractional post-consolidation common shares. 

The consolidation is a requirement of the recently completed private placements in the aggregate amount of $46,000,000 conducted by the Company to enhance the marketability of the Company's common shares as an investment, and to facilitate additional financings to fund future acquisitions and operations.

The share consolidation is subject to receipt of approval of the TSX Venture Exchange.

About C2C Industrial Properties Inc.

C2C is a real estate investment corporation specializing in the acquisition, ownership and operation of industrial properties across Canada. C2C owns fourteen industrial assets totalling approximately 1.2 million square feet. More information about C2C (TSXV: CCH) is available at www.sedar.com.

Forward Looking Statements

This document contains forward-looking statements relating to C2C and the industry in which it operates and its strategy, action plans and investments, which may involve estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond C2C's control.  Consequently, readers should not place any undue reliance on such forward-looking statements. These forward-looking statements are made as of the date of this press release. C2C is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors, unless otherwise required to do so by applicable law. All forward-looking statements attributable to C2C are expressly qualified by these cautionary statements.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

C2C Industrial Properties Inc.
Christopher Ross
President
[phone]
[email protected]