TORONTO,
June 27, 2016 /CNW/ - Callidus
Capital Corporation (TSX:CBL) ("Callidus" or the "Corporation")
announced today that upon the terms and subject to the conditions
of its substantial issuer bid (the "Offer"), Callidus has taken up
and accepted for payment 162 common shares ("Shares") that were
validly deposited and not withdrawn to the Offer on June 27, 2016. The outstanding Offer is
currently scheduled to expire at 5:00
p.m. (Toronto time) on
July 27, 2016, unless further
extended or withdrawn by the Corporation.
As previously announced by Callidus, the
Corporation has increased the purchase price under its Offer to
$15.50 per Share from $14.00 per Share. Callidus will pay an additional
$1.50 per common share (the amount of
the increase over the previous purchase price) to all shareholders
who have previously tendered their Shares, including those that
have already been taken up and paid for by Callidus. Under the
revised Offer, the aggregate maximum purchase price payable by
Callidus is Cdn $55,357,134.
Callidus will mail a notice of variation to its
shareholders, setting out the new terms of the Offer.
This press release is for information purposes
only and is not an offer to buy or the solicitation of an offer to
sell any Shares.
About Callidus Capital Corporation
Established in 2003, Callidus Capital Corporation
is a Canadian company that specializes in innovative and creative
financing solutions for companies that are unable to obtain
adequate financing from conventional lending institutions. Unlike
conventional lending institutions who demand a long list of
covenants and make credit decisions based on cash flow and
projections, Callidus credit facilities have few, if any, covenants
and are based on the value of the company's assets, its enterprise
value and borrowing needs. Callidus employs a proprietary system of
monitoring collateral and exercising control over the cash inflow
and outflows of each borrower, enabling Callidus to very
effectively manage any risk of loss. Further information is
available on our website, www.calliduscapital.ca.
SOURCE Callidus Capital Corporation