TORONTO, June 4, 2021 /CNW/ - Trez Capital Senior Mortgage Investment Corporation (TSX: TZS) is pleased to announce that it has filed articles of amendment to change its name from "Trez Capital Senior Mortgage Investment Corporation" to "Standard Mercantile Acquisition Corp." (the "Company"). The Company received shareholder approval for the name change at its annual and special meeting of shareholders held on May 6, 2021 (the "2021 Meeting"). The Company's Class A Shares will trade on the facilities of the Toronto Stock Exchange (the "TSX") under the new symbol "SMA" following receipt of final approval for the name change from the TSX.
Management believes that the new name is better aligned with the Company's efforts to seek to enhance shareholder value by exploring a transaction or series of transactions that could monetize the value of Company as a publicly-listed entity, while continuing to pursue an orderly disposition of the Company's assets and distribution of cash as and when available.
At the 2021 Meeting, shareholders approved a special resolution to amend and restate the orderly wind-up plan of the Company, which was previously approved at the annual and special meeting of shareholders on June 16, 2016, by eliminating the requirement that the Company be dissolved and to permit the board of directors and management of the Company to explore and enter into a transaction or series of transactions, from time to time, with the goal of monetizing the public listing of the Company. To the extent the Company is able to secure such a transaction, further value may be available to shareholders beyond the value to be realized through the dissolution process alone. There is no assurance that any such transaction will occur and any such transaction may require additional shareholder and other regulatory approvals depending on the nature and structure of the transaction.
Certain statements in this press release contain forward-looking information, including statements relating to the proposed Revocation Resolution and future of the Company. Such forward-looking information may be identified by words such as "anticipates", "plans", "proposes", "estimates", "intends", "expects", "believes", "may" and "will". The forward-looking statements are founded on the basis of expectations and assumptions made by the Company. Details of the risk factors relating to the Company and its business are discussed under the heading "Business Risks and Uncertainties" in the Company's annual Management's Discussion & Analysis for the year ended December 31, 2020 and under the heading "Risk Factors" in the Company's Annual Information Form dated March 31, 2021, copies of which are available on the Company's SEDAR profile at www.sedar.com. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. These statements speak only as of the date of this press release. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE Trez Capital Senior Mortgage Investment Corporation
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