The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

DirectCash Income Fund Announces Securityholder and Court Approvals of Plan of Arrangement

Wednesday, November 17, 2010

DirectCash Income Fund Announces Securityholder and Court Approvals of Plan of Arrangement17:22 EST Wednesday, November 17, 2010CALGARY, ALBERTA--(Marketwire - Nov. 17, 2010) - DirectCash Income Fund (TSX:DCI.UN) ("DirectCash" or the "Fund") is pleased to announce that DirectCash has received securityholder and court approvals for the previously announced plan of arrangement pursuant to which DirectCash will covert (the "Reorganization") into, dividend paying public company to be named "DirectCash Payments Inc.". Securityholders of DirectCash voted 100% in favour of the Reorganization. The Reorganization is expected to become effective on January 1, 2011. Forward-looking StatementsCertain information in this news release contains forward-looking statements including management's assessment of future plans and operations of DirectCash, the effect and anticipated benefits of the Reorganization, the timing of the completion of the Reorganization and the anticipated dividend to be paid by DirectCash Payments Inc. following the Reorganization. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond DirectCash's control including, without limitation, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of exchange rates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the forgoing list of factors is not exhaustive. Additional information on these and other factors that could effect DirectCash's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website ( and at DirectCash's website ( Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and DirectCash does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.Additional information about the Fund is available on SEDAR ( or the Fund's website at FURTHER INFORMATION PLEASE CONTACT: Manager of DirectCash Income FundDirectCash Management Inc.Jeffrey J. Smith, President & C.E.O.(403) 387-2101(403) 451-2101 (FAX)jeff@directcash.netORManager of DirectCash Income FundDirectCash Management Inc.Bay #6, 1420 - 28th Street N.E.Calgary, Alberta T2A