Counsel Corporation (TSX:CXS) agreed to spin-off 20.2% stake in Terra Firma Capital Corporation (TSXV:TII) to its shareholders for CAD 2 million on September 20, 2012. Under the transaction, Counsel will distribute 6.17 million shares of Terra Firma. Following the completion of the distribution, Counsel would no longer hold any Terra Firma shares. The transaction is expected to occur in January 2013. As of November 8, 2012, the Board of Counsel formally declared the distribution. Each holder of Counsel's common shares will receive that number of Terra Firma Shares equal to the fraction of 6.17 million divided by the total issued and outstanding common shares of Counsel for each one of Counsel's common shares held. The record date of the transaction is December 3, 2012 and the distribution will made on or about January 1, 2013. Tim Foran of The Equicom Group acted as PR advisor for Counsel.

Counsel Corporation (TSX:CXS) completed the spin-off of 20.2% stake in Terra Firma Capital Corporation (TSXV:TII) to its shareholders for CAD 1.85 million on January 1, 2013.