N@N

Pacific &; Western Credit Corp. Announces Issuance of $33.2 Million Class ";B"; Preferred Shares

_{//business-finance.news-articles.net/content/200 .. ce-of-33-2-million-class-b-preferred-shares.html}
^{Published in Business and Finance on Monday, August 31st 2009 at 13:12 GMT by Market Wire}  

 LONDON, ON, Aug. 31 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) is pleased to announce that approximately $33.2 million of new Class "B" Preferred Shares of PWC will be issued today as a result of conversions of approximately 828,000 Class "A" Preferred Shares, $3.3 million of Series A Notes and $27.4 million of Series C Notes. In addition, approximately $6.8 million of Series C Notes of PWC will be issued today as a result of the conversion of approximately $5.6 million of Series A Notes. The TSX has approved the listing of PWC's new Class "B" Preferred Shares, subject to the receipt of standard documentation. Trading of the Class "B" Preferred Shares is expected to commence on the TSX on or about Tuesday, September 8, 2009. David Taylor, President & C.E.O stated that, "We are very pleased that our new class of preferred shares has been so well received by the investing public". Pacific & Western Credit Corp.'s shares trade on the TSX under the symbol PWC. To receive company news releases, please contact: Carla McPhee at [ carlam@pwbank.com ], (519) 675-4204

For further information: Investor Relations: Wade MacBain at (800) 244-1509 or [ InvestorRelations@pwbank.com ]; Public Relations & Media: Tel Matrundola, Vice-President, (416) 203-0882, [ telm@pwbank.com ]; Visit our website at: [ http://www.pwbank.com ]