LAVAL, QC, July 31 /CNW Telbec/ - Mercator Transport Corporation Group
("Mercator Transport") (TSX-V : GMT) announces that closing of the previously
reported acquisition of the French corporation S.A.S. Trans Orient Services
("Trans Orient") has been delayed due to filing of an appeal procedure against
the court decision ratifying the acquisition of Trans Orient by Mercator
Transport.
This acquisition, announced on June 23, 2009, took place in the context
of the judicial liquidation of Orient Finances SAS, a French corporation which
held all shares of Trans Orient. On June 22, 2009, Mercator received copy of
the Vienna Commercial Court (France) decision confirming the terms of the
offer it had submitted for the acquisition of the shares of Trans Orient had
been accepted.
Proceedings to appeal this decision were filed in the Court of Appeal of
Grenoble (France) by minority shareholders of Orient Finances SAS. Mercator
Transport and its legal counsellors are presently studying the appeal
procedure which has been filed.
About Mercator Transport
Mercator Transport specializes in transport brokerage, international
logistics and distribution. With offices in Montreal (Canada) and Las Vegas
(USA), Mercator Transport offers value-added services in global supply chain
management, and designs tailor-made solutions. Customer intimacy and
commitment differentiates Mercator Transport in its ability to implement
customers' requirements.
Neither TSX Venture Exchange nor its Regulatory Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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