Shareholders of Franchise Bancorp Inc. Overwhelmingly Accept Offer by WTF Holdings Inc. - Offer Extended for a Mandatory 10 Days

BRAMPTON, ON, Jan. 3, 2017 /CNW/ - WTF Holdings Inc. ("WTF") announced today that 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") has been accepted by holders of Common Shares representing approximately 95% (i.e. more than 50%) of the total number of Common Shares outstanding, not including those Common Shares beneficially owned, or over which control or direction is exercised by WTF and its affiliates and associates and joint actors.

The conditions of the Offer have been satisfied and a total of 1,968,635 Common Shares were validly deposited under the Offer and not withdrawn. WTF has taken up and accepted for payment all such Common Shares. Payment for such Common Shares is expected to be made to the depositary, TSX Trust, on or before January 6, 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 already tendered 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 8,521,060 Common Shares, representing approximately 99% of the outstanding Common Shares and 100% of the outstanding Class A Shares and Class B Shares.

Expiry Time

As required by securities laws, the Offer is being extended for the mandatory 10-day extension period until 4:00 p.m. (Toronto time) on January 13, 2017, unless extended or withdrawn, to allow FBI shareholders who have not yet tendered their shares to the Offer an opportunity to do so. Shareholders who have validly deposited their Common Shares do not need to take any further action to accept the Offer.

WTF will take up the Common Shares deposited to the Offer during such extension period, and will issue a press release announcing same at that time.

WTF intends to proceed with a compulsory acquisition to acquire any Common Shares not deposited to the Offer. Shareholders are encouraged to tender their shares prior to January 13, 2017 in order to avoid any delay in receiving the consideration payable for their shares.

The Offer and Takeover Bid Circular documents have been filed on SEDAR and are available at under FBI's profile.

Information and Contacts

WTF has retained TSX Trust to act as depositary and Laurel Hill Advisory Group to act as information agent in connection with the Offer. Any questions or requests for assistance or further information on how to tender Common Shares to the Offer may be directed to, and copies of the above referenced documents may be obtained by contacting:

Laurel Hill Advisory Group
Toll free in North America: 1-877-452-7184
For banks and brokers and collect calls outside North America: 1-416-304-0211

Shareholders whose Common Shares are registered in the name of a broker, investment dealer, bank, trust company or other nominee should immediately contact such nominee for assistance in tendering their Common Shares to the Offer.

SOURCE Franchise Bancorp Inc.

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


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