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Message: Spectra redeems 250 preferred shares held by CABE

Spectra redeems 250 preferred shares held by CABE

 

2019-07-09 11:22 MT - News Release

 

Mr. Andrew Malion reports

SPECTRA INC. REPORTS REDEMPTION OF PREFERRED SHARES

Spectra Inc. has redeemed 250 preferred shares held by CABE Financial Corp.

Due to continued strong results in the first half of 2019, the corporation was able to redeem 250 preferred shares for $250,000. This is well ahead of the required redemption dates of Dec. 31, 2019, and June 30, 2020; each for 125 shares at $1,000 per share.

"With this redemption, we will have now redeemed all of the 750 preferred shares originally issued to Dynamic Venture Opportunity Fund and acquired by CABE in December, 2017," stated Andrew Malion, president of Spectra.

About Spectra Inc.

Spectra, through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake Safe, Brake Inspector and the Termin-8R. Spectra manufacturers and distributes the new Arrow Logger brake stroke data logger that has been designed to enhance the performance of the Brake Safe system.

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