TORONTO, April 01, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (TSXV: PVF.UN, TSXV: PVF.PR.U) (the “Partnership”) and Partners Value Investments Inc. (TSXV: PVF.WT) (“PVII”) today announced the successful completion of a short form vertical amalgamation under the Business Corporations Act (Ontario) between PVII and Partners IV Inc., a wholly-owned subsidiary of PVII (the “Amalgamation”).
As a result of the Amalgamation, 5,640,600 non-voting exchangeable shares of PVII (the “Exchangeable Shares”) that were previously held by Partners IV were cancelled. Additionally, in connection with the Amalgamation, an aggregate of 2,749,429 Exchangeable Shares were issued to former holders of non-voting common shares in the capital of Partners IV.
The PVII Board and the board of trustees of PVMT have each appointed Cyrus Madon as Chief Executive Officer of PVII and PVMT. Following completion of the Amalgamation, subject to TSX Venture Exchange acceptance, Aleks Novakovic, Paul Farrell and Don MacKenzie will be joining the board of directors of PVII (the “PVII Board”), replacing Frank Lochan, Gregory Morrison and Ralph Zarboni who are each retiring from the PVII Board. Additionally, following completion of the Amalgamation, subject to TSX Venture Exchange acceptance, Frank Lochan and Gregory Morrison will also step down as trustees of PVI Management Trust (“PVMT”), the general partner of the Partnership, and be replaced with Don MacKenzie and Paul Farrell as trustees of PVMT.
“We would like to express our sincere gratitude to each of Frank, Ralph, and Greg for their service and for their numerous contributions to the group’s success,” said Brian Lawson, chair of the PVII Board.
Additional Information
For additional information, please contact Investor Relations at [email protected] or 416-643-7621.
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