TORONTO, July 4, 2013 /CNW/ - MCAN Mortgage Corporation (TSX:MKP) ("MCAN", the "Company" or "we") and Xceed Mortgage Corporation (TSX:XMC) ("Xceed") are pleased to announce today that the previously announced acquisition of each of the issued and outstanding common shares of Xceed ("Xceed Shares") pursuant to a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement") has closed. Xceed is now a wholly owned subsidiary of MCAN. Pursuant to the Arrangement, holders of Xceed Shares were entitled to elect to receive Cdn$1.75 in cash or 0.118 of a common share of MCAN (the "MCAN Shares") for each Xceed Share held, subject to pro-ration. Pursuant to the...
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