BRAMPTON, ON, Jan. 6, 2017 /CNW/ - WTF Holdings Inc. ("WTF") announces that it has acquired ownership and control over 1,968,635 Common Shares of Franchise Bancorp Inc. ("FBI"), representing approximately 22.8% of FBI's currently issued and outstanding Common Shares. The shares were acquired for $2.13 per share pursuant to a formal takeover bid.
Following the acquisition, WTF holds 7,615,056 Common Shares representing approximately 88.3% of the Common Shares of FBI currently issued and outstanding; and together with its affiliates and associates, 8,521,060 Common Shares representing approximately 98.8% of the Common Shares.
WTF will take up and pay for any additional FBI shares tendered to the takeover bid and intends to thereafter proceed with a compulsory acquisition to acquire any shares not tendered to the bid.
Source and Information:
WTF Holdings Inc.
294 Walker Drive
Brampton, Ontario L6T 4Z2
This news release is issued pursuant to National Instrument 62-103: The Early Warning System and Related Take-over Bid and Insider Reporting Issues. A copy of the Early Warning Report will appear with FBI's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting Paul Thomson, FBI's Chief Financial Officer at 905-790-9023.
SOURCE WTF Holdings Inc.