TORONTO, Nov. 17, 2017 /CNW/ - Harrington Global Limited ("Harrington") announced that it, on behalf of Harrington Global Opportunities Fund Limited (the "Fund"), which it manages, has acquired 200,000 common shares ("Common Shares") of Founders Advantage Capital Corp. ("FCF") at $2.3707 per share in the open market (the "Acquisition").
Prior to the Acquisition, the Fund owned 3,809,929 Common Shares. As a result of the Acquisition, the Fund beneficially owns, and Harrington exercises control and direction over, an aggregate of 4,009,929 Common Shares, representing approximately 10.52% of FCF's 38,128,606 issued and outstanding Common Shares as reported in its Management's Discussion and Analysis dated August 28, 2017.
The securities of FCF were acquired in the ordinary course of business, for investment purposes only. Depending on market conditions and other factors, Harrington, on behalf of the Fund, may from time to time acquire additional securities of FCF, or continue to hold or dispose of some or all of the securities of FCF in the open market, by private agreement or otherwise.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
SOURCE Harrington Global Limited
For further information: To receive a copy of the early warning report filed in respect of the above transactions, please contact Paul Davis at 1-416-865-7000.