TORONTO, ONTARIO--(Oct. 22, 2007) - Global 45 Split Corp. (TSX:GFV) announces that it has filed a preliminary short form prospectus in connection with the offering of Rights (the "Rights Offering") to the holders of its outstanding Class A Shares to subscribe for Units consisting of one Class A Share and one Preferred Share of the Corporation. The Rights Offering is subject to receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange.
Rights and Subscription Price. Each Class A Shareholder will receive one Right for each Class A Share held on the record date. Three Rights will entitle the holder to purchase one Unit consisting of one Class A Share and one Preferred Share. The record date, exercise price and Rights expiration date have not yet been determined. The Corporation will make a further announcement with respect to these matters subsequent to the filing of the final short form prospectus.
Additional Subscription Privilege. Holders of Rights who fully exercise their Rights are entitled to subscribe pro rata for additional Units that were not subscribed for initially on or before the expiration date, if available.
Use of Proceeds. The net proceeds of the Rights Offering will be used by the Corporation to acquire, in the open market, common shares of the five largest companies by market capitalization in the world in each of the following industry sectors: basic materials, communications, consumer-cyclical, consumer non-cyclical, energy, financials, industrial, technology and utilities.
Dealer Manager. National Bank Financial Inc. will be the Dealer Manager for the Rights Offering.
A preliminary prospectus relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada but has not yet become final for the purpose of a distribution to the public. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province of Canada prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in such province.
For more information, please call Rob MacNiven (Investor Relations) at (416) 642-1289 or (877) 642-1289, or visit www.firstasset.com.