NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
TORONTO, May 02, 2022 (GLOBE NEWSWIRE) -- FAX Capital Corp. (the “Company”) (TSX:FXC.TO) is pleased to announce that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Federated Capital Corp. (“FCC”) and Fax Investments Inc., a wholly-owned subsidiary of FCC (together with FCC, the “Purchaser”), pursuant to which the Purchaser has agreed to acquire, indirectly through an acquisition company, all of the Company’s outstanding subordinated voting shares (the “Subordinate Voting Shares”) not currently owned by the Purchaser or Blair Driscoll, the Company’s Chief Executive Officer (together, the “Continuing Shareholders”), by way of a court-approved plan of arrangement under the Canada Business Corporations Act (the “Transaction”). As at the date hereof, the Continuing Shareholders own or control, directly or indirectly, an aggregate of 609,247 Subordinate Voting Shares, representing 3.92% of the Company’s issued and outstanding Subordinate Voting Shares and the Purchaser owns 26,971,411 of the Company’s outstanding multiple voting shares (the “Multiple Voting Shares”), representing 100% of the Company’s issued and outstanding Multiple Voting Shares.
Read more at globenewswire.com
/Oracle%20Corp_%20office%20logo-by%20Mesut%20Dogan%20via%20iStock.jpg)
/A%20concept%20image%20of%20space_%20Image%20by%20Canities%20via%20Shutterstock_.jpg)
/A%20photo%20of%20a%20Sandisk%20Solid%20State%20Drive%20by%20Top%20Popular%20Vector%20by%20Shutterstock.jpg)
