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Published:
Redex Inc.: Exchange's Final Approval Regarding the Sale of the Montpellier Property
MONTREAL, QUEBEC - (Marketwire - Oct. 14, 2008) - Redex Inc. (the "Corporation") (TSX VENTURE:RDX)(FRANKFURT:W1F) announces that the TSX Venture Exchange (the "Exchange") gave its final approval, in a bulletin issued October 10, 2008, regarding the sale of The Montpellier property located at 755, Montpellier Boulevard, borough of Saint-Laurent, in the City of Montreal. This arm's length transaction between the Corporation, through a wholly-owned subsidiary, and 6977502 Canada Inc. for a net amount of CAN$ 18,900,000 includes brokerage fees of CAN$ 200,000 paid in cash to Cushman Wakefield Lepage by the Corporation.
The Corporation is confident that the reinstatement of trading for Redex' shares on the Exchange shall resume quickly. The Corporation will keep its shareholders informed regarding further developments relevant to this matter in a timely manner.
REDEX... Real estate at your service!
About Redex Inc.
In recent years, Redex had become a leader in real estate recovery and restructuring. Redex is now committed to becoming the leader in the art of converting residential rental housing into co-ownerships. The common shares of the Company are currently listed on the Toronto Venture Exchange (symbol: RDX) and the Frankfurt Stock Exchange (symbol: W1F).
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
www.redex.ca
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