VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 31, 2017) - UPP Holdings Limited ("UPP") today announced that on January 31, 2017, it indirectly acquired ownership of 18,908,208 common shares (the "Common Shares") of Taiga Building Products Ltd. ("Taiga"), a company with a head office at #800 - 4710 Kingsway, Burnaby, British Columbia, V5H 4M2, at a purchase price of CDN$1.00 per Common Share for an aggregate purchase price of CDN$18,908,208. UPP acquired ownership through two private transactions (the "acquisitions") made in reliance on the private agreement exemption set out in section 4.2 of National Instrument 62-104 Take-Over Bids and Issuer Bids. The acquisitions were completed through UPP's wholly owned subsidiary, UPP Investments Canada Limited ("UPP Canada"), of 1200 Waterfront Centre, 200 Burrard St, P.O. Box 48600, Vancouver, BC, Canada V7X 1T2. Prior to the acquisitions, neither UPP nor UPP Canada, owned, directly or indirectly, or exercised control or direction over any Common Shares of Taiga.
After the completion of the acquisitions, UPP now owns, directly or indirectly, or exercises control or direction over, 18,908,208 Common Shares. The 18,908,208 Common Shares represent approximately 58.34% of the total number of issued and outstanding Common Shares.
UPP's acquisitions were made for investment purposes. UPP may, in the future, increase or decrease its beneficial ownership, control or direction over securities of Taiga.
For more information, or to obtain a copy of the subject early warning report, please contact:
UPP Holdings Limited
1 Kim Seng Promenade
#13-10 Great World City West Tower
Telephone: (65) 6836 5522
Facsimile: (65) 6836 5500