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Callidus Capital extends repurchase offer, engages adviser to explore privatization

Toronto-based Callidus Capital Corp. extended its to repurchase and cancel up to3,571,428 of its outstanding common shares at C$16.50 per share.

The offer will expire at 5 p.m. Toronto time on Sept. 30.

The company had repurchased 1,900,554 shares by Sept. 29.

Callidus Capital previously announced that the company mightgo private if it continues to trade at a significant discount. The company'sboard has started soliciting privatization proposals and is in the process ofhiring a financial adviser.

CatalystCapital Group Inc., which indirectly holds approximately 65% of thecompany does not plan to sell its stake, the release added.