WTF Holdings Inc. to Proceed with Compulsory Acquisition of Remaining Shares of Franchise Bancorp Inc.

BRAMPTON, ON, Jan. 16, 2017 /CNW/ - WTF Holdings Inc. ("WTF") announced today that pursuant to its offer to purchase all common shares ("Common Shares") of Franchise Bancorp Inc. ("FBI"), other than Common Shares owned by WTF and its affiliates and associates, for $2.13 per Common Share (the "Offer"), an additional 18,346 Common Shares have been validly deposited prior to the expiry of the Offer on January 13, 2017.

Together with the 1,968,635 Common Shares previously acquired under the Offer, WTF has taken up and accepted for payment a total of 1,986,981 Common Shares. Payment for the additional 18,346 Common Shares is expected to be made to the depositary, TSX Trust Company, on January 16, 2017. If Common Shares were tendered through brokers or financial intermediaries, holders of such Common Shares will receive payment for their shares through their broker or financial intermediary.

With the take up of the Common Shares deposited but not owned by WTF and its affiliates and associates, WTF and its affiliates and associates now beneficially own, directly and indirectly, an aggregate of 8,539,406 Common Shares, representing approximately 99.01% of the outstanding Common Shares and 100% of the outstanding Class A Shares and Class B Shares.

WTF is proceeding with a compulsory acquisition to acquire any Common Shares not deposited to the Offer pursuant to Section 188 of the Business Corporations Act (Ontario).  WTF expects to send the required compulsory acquisition notice to the remaining FBI shareholders on January 16, 2017.

SOURCE WTF Holdings Inc.

For further information: The contact for WTF is: Paul Thomson, President, 905-790-9023, Toll Free: 1-866-463-4124, Email: paul@franchisebancorp.com


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