#Canada #Toronto #LWP Capital #Liquidation #KSV Advisory

LWP Capital Inc. Schedules Court Hearing for Liquidation

LWP Capital Inc., previously known as Legumex Walker Inc., has announced a critical milestone in its liquidation journey. The company is set to hold a court hearing on December 4, 2024, at 12 p.m. EDT before the Ontario Superior Court of Justice. This hearing aims to finalize the accounts of the court-appointed liquidator and authorize the distribution of remaining assets to shareholders.

Key Details of the Hearing

At this hearing, KSV Advisory Inc. will represent the liquidator and will make a motion requesting the court's approval for several essential matters. This includes:

• - The ratification of the final accounts concerning the liquidation, detailing all financial activities from December 31, 2015, to the present.
• - The formal dissolution of LWP Capital Inc.
• - The permission to distribute approximately $300,000, equating to about $0.02 per share, to shareholders, which would increase total distributions during this process to approximately $18.5 million, or $1.14 per share.

The final distribution's exact amount is subject to adjustment until confirmed by the court. Following the approval, further details regarding the record date and payment schedule will be released in a subsequent press announcement.

Background of Liquidation Process

The voluntary liquidation process began on the Effective Date when LWP Capital adopted a liquidation plan approved by the court on January 11, 2016. The fifth report by the liquidator was filed on November 28, 2024, offering additional context for the upcoming court motion.

Shareholders interested in more comprehensive information on the liquidation proceedings can access the detailed reports on KSV Advisory's website. The site includes extensive data and updates relevant to LWP's liquidation status.

Cautionary Notes on Forward-looking Statements

It's important to recognize that this announcement contains forward-looking statements under Canadian securities laws. These statements include anticipated outcomes regarding the liquidation process and distributions, which are influenced by various uncertainties and assumptions. Although LWP Capital and KSV Advisory have attempted to identify crucial factors that could lead to deviations from projected outcomes, other variables may arise that could affect expectations.

Readers are urged not to overly rely on these forward-looking assessments, as actual results could significantly differ. The company does not have any obligations to update these projections except as required by applicable securities regulations.

In conclusion, as the dates approach for the court hearing and potential shareholder distributions, LWP Capital Inc. marks a concluding chapter in its business journey, providing an essential avenue for return to its equity holders. This reflects not only the company's resilience but also highlights the collaborative efforts of legal and advisory teams in navigating complex financial protocols.