The Futura Corporation

The Futura Corporation

November 14, 2013 12:47 ET

The Futura Corporation Announces Acquisition of Further Interest in Tree Island Steel Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 14, 2013) - The Futura Corporation ("Futura") announces that on November 13, 2013 it acquired 2,300,000 common shares of Tree Island Steel Ltd. ("Tree Island") (TSX:TSL).

Based on Tree Island's latest quarterly reporting, Futura now owns 29.15% of the issued and outstanding common shares of Tree Island. Futura acquired these common shares for investment purposes. Futura also owns $5,000,000 convertible debentures and 1,875,000 Warrants in Tree Island Steel. Futura may from time to time acquire additional securities of Tree Island, dispose of some or all of the existing or additional securities, or continue to hold securities of Tree Island in the normal course of its investment activities.

Futura relied on Section 4.2 of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids in purchasing these common shares.

About Futura

The Futura Corporation is a Vancouver, British Columbia based private asset management and investment company. Futura has interests in numerous private and public companies, and specializes in the building materials sector.

Contact Information

  • The Futura Corporation
    Amar S. Doman
    President and CEO
    (604) 608-6600
    PO Box 10017, Pacific Centre
    Vancouver, BC V7Y 1A1