The Futura Corporation

The Futura Corporation

April 19, 2017 13:50 ET

The Futura Corporation Announces Additional Investment in CanWel Building Materials Group Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 19, 2017) - The Futura Corporation ("Futura") announces that it subscribed for 656,000 common shares of CanWel Building Materials Group Ltd. ("CanWel") (TSX:CWX) as part of CanWel's $40.25 million bought deal equity financing that was completed on April 18, 2017 (the "Financing").

Based on the 67,782,689 common shares outstanding upon completion of the Financing, the common shares acquired by Futura in the Financing represent approximately 0.9% of the issued and outstanding common shares. After giving effect to the acquisition of the common shares referred to above, Futura and its joint actors collectively own 11,825,564 common shares, representing approximately 17.45% of the common shares issued and outstanding upon completion of the Financing.

Futura acquired these common shares for investment purposes. Futura may from time to time acquire additional securities of CanWel, dispose of some or all of the existing or additional securities, or continue to hold securities of CanWel in the normal course of its investment activities.

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

  • For further information or to obtain a copy of the early
    warning report filed by Futura in connection with its
    acquisition of common shares: The Futura Corporation
    Amar S. Doman
    President and CEO
    (604) 608-6600