Arbutus Distributors Ltd.

October 28, 2014 19:53 ET

Arbutus Distributors Ltd. Acquires Common Shares of CanWel Building Materials Group Ltd. from P.M. Bull Holdings Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2014) - Arbutus Distributors Ltd. (the "Offeror") announces that on October 23, 2014 it acquired 2,911,650 common shares (the "Common Shares") of CanWel Building Materials Group Ltd. ("CanWel"), (collectively, the "Acquisition"). The Acquisition represents approximately 10.01% of the issued and outstanding Common Share of CanWel. As a result of the Acquisition, the Offeror now has ownership of 2,911,650 Common Shares, representing approximately 10.01% of the issued and outstanding Common Shares of CanWel. The Offeror acquired the Common Shares for investment purposes through a private share transfer from PM Bull Holdings Ltd. and the Common Shares have an approximate book value of $16,400,151.18, being approximately, $5.63 per Common Share. The Offeror may from time to time increase or decrease its ownership position in the future.

Contact Information

  • Arbutus Distributors Ltd.
    Suite 200, 2780 Granville Street
    Vancouver, BC V6J 3J3
    604-682-2911
    604-682-2729 (FAX)