Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Allen-Vanguard Rescue Board -- Ignore unavailable to you. Want to Upgrade?

To: jelenia1 who wrote (97)	9/17/2009 7:45:37 PM
From: sixtieskid_EXSH	1 Recommendation Read Replies (1) \| Respond to of 724

This may be a saving grace: News release via Canada NewsWire, Ottawa 613-563-4465 Attention Business/Financial Editors: Allen-Vanguard announces termination of arrangement agreement with Tailwind Financial and execution of exclusivity agreement with new U.S. investor OTTAWA, April 6 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company" or "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada announced today that the arrangement agreement in respect of the previously announced plan of arrangement among Allen-Vanguard, Tailwind Financial Inc. and AV Acquisition Corp. (the "Arrangement") has been terminated and that the Arrangement will therefore not proceed. At the same time, Allen-Vanguard announced that it has entered into an exclusivity agreement with an unrelated U.S. investor for a period of three weeks ending April 24, 2009, during which time the investor will undertake discussions with Allen-Vanguard's stakeholders and perform due diligence with the objective of entering into a binding agreement pursuant to which Allen-Vanguard would be taken private. Any such transaction would be subject to the approval of Allen-Vanguard shareholders and other customary conditions. The Company also announced that C$14.1 million in subscription receipts raised and held in escrow under the rights offering results announced March 24, 2009 will be returned to receiptholders as provided in the Company's rights offering prospectus. Forward looking statements This press release may contain forward-looking statements, which reflect Allen-Vanguard's current expectations regarding future events, its strategy, expected performance and condition. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "plans," "believes," "estimates" or negative versions thereof and similar expressions. In addition, any statement that may be made concerning future performance, strategies or prospects, and possible future acquisitions or dispositions, is also a forward-looking statement. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company and economic factors. Forward-looking statements are not promises or guarantees of future performance, and actual events and results could differ materially from those expressed or implied in any forward-looking statements made about the Company. Any number of important factors could contribute to these digressions, including, but not limited to, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, and catastrophic events. We stress that the above-mentioned list of important factors is not exhaustive. We encourage you to consider these and other factors carefully before making any investment decision and we urge you to avoid placing undue reliance on forward-looking statements. Further, you should be aware that the Company disclaims any obligation to publicly update or revise any such forward-looking statements whether as a result of new information, future events or otherwise, prior to the release of the next Management Discussion and Analysis to be released by the Company or except as required by law. About Allen-Vanguard Allen-Vanguard Corporation supports the mission of military and homeland security forces