Lloyd I. Miller, III

April 27, 2017 14:08 ET

Lloyd I. Miller, III Acquires Additional Common Shares of MFC Bancorp Ltd.

WEST PALM BEACH, FLORIDA--(Marketwired - April 27, 2017) - On April 26, 2017, Lloyd I. Miller, III acquired ownership, control or direction over 1,003,000 common shares ("Common Shares") of MFC Bancorp Ltd. ("MFC"), representing an increase in Mr. Miller's securityholding percentage of approximately 1.60% of the issued and outstanding Common Shares, as reported by MFC. Mr. Miller acquired the foregoing Common Shares directly and through Lloyd I. Miller Trust A-1 ("Trust A1"), a trust in respect of which Mr. Miller is the manager of the investment advisor, Lloyd I. Miller Trust A-4 ("Trust A4"), a trust in respect of which Mr. Miller is the manager of the investment advisor, Susan F. Miller ("Spouse Account"), an individual account in respect of which Mr. Miller has discretionary investment authority, MILFAM II L.P. ("M2"), a partnership of which Mr. Miller is the managing member of the general partner, and MILFAM III LLC ("M3"), a limited liability company in respect of which Mr. Miller is the manager.

Prior to the acquisition, Mr. Miller acquired ownership, control or direction over 596,527 Common Shares through Trust A4, M2 and other entities, bringing his ownership, control or direction to 8,222,991 Common Shares, representing an increase in Mr. Miller's securityholding percentage from 12.08%, as previously reported, to 13.12% of the issued and outstanding Common Shares, as reported by MFC.

Immediately after the acquisition, Mr. Miller, directly and through Trust A1, Trust A4, Spouse Account, M2, M3 and other entities, had ownership, control or direction over an aggregate of 9,225,991 Common Shares, representing approximately 14.72% of the issued and outstanding Common Shares, as reported by MFC.

The Common Shares were acquired through the facilities of the Nasdaq Stock Market and by way of private agreement at an average price of US$1.5501 per Common Share, which based on the Bank of Canada daily exchange rate on April 26, 2017 equals CDN$2.1070 per Common Share for a total consideration of approximately CDN$2,113,347.

The Common Shares were acquired for investment purposes. Depending on the evolution of MFC's business, financial condition, the market, if any, for MFC's securities, general economic conditions and other factors, Mr. Miller and his joint actors may acquire additional securities of MFC, or sell some or all of the securities they hold, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.

For inquiries or a copy of the related early warning report, a copy of which will be filed on www.sedar.com under MFC's profile, please contact:

Lloyd I. Miller, III
3300 South Dixie Highway
Suite 1-365
West Palm Beach, Florida
USA 33405
Telephone: (561) 287-5399
E-Mail: info@limadvisory.com
Eric Fangmann
3300 South Dixie Highway
Suite 1-365
West Palm Beach, Florida
USA 33405
Telephone: (561) 287-5399
E-Mail: info@limadvisory.com

Contact Information

  • Lloyd I. Miller, III
    3300 South Dixie Highway, Suite 1-365
    West Palm Beach, Florida
    USA 33405
    (561) 287-5399
    info@limadvisory.com

    Eric Fangmann
    3300 South Dixie Highway, Suite 1-365
    West Palm Beach, Florida
    USA 33405
    (561) 287-5399
    info@limadvisory.com