EDMONTON, Alberta, July 05, 2018 (GLOBE NEWSWIRE) — 933672 Alberta Ltd. (the “Acquiror”) entered into a share purchase agreement with Sym-Tech Inc. (“Sym-Tech”) and Mr. Bradley Wells to purchase an aggregate of 3,585,600 common shares (“Rifco Shares”) of Rifco Inc. (“Rifco”) in a private off-market transaction (the “Acquisition”), representing 16.6% of the issued and outstanding Rifco Shares on a non-diluted basis. Pursuant to the Acquisition, the Acquiror purchased 1,937,600 Rifco Shares from Sym-Tech for C$2,661,093.02 in aggregate, or C$1.37340 per share, and purchased 1,648,000 Rifco Shares from Mr. Wells for C$2,200,879.36 in aggregate, or C$1.33549 per share.
Prior to the Acquisition, the Acquiror held 242,700 Rifco Shares, representing 1.1% of the issued and outstanding Rifco Shares on a non-diluted basis. After acquiring the 3,585,600 Rifco Shares pursuant to the Acquisition, the Acquiror now holds 3,828,300 Rifco Shares, representing 17.7% of the issued and outstanding Rifco Shares on a non-diluted basis.
The Acquiror acquired the Rifco Shares referred to herein for investment purposes. The Acquiror may, in the future, increase or decrease its ownership of securities of Rifco, depending upon, among other things, the business prospects of Rifco and market conditions.
The address of Rifco is Millennium Centre, Suite 702, 4909 49 Street, Red Deer, Alberta T4N 1V1. The Acquiror is a corporation existing under the Business Corporations Act (Alberta) and its principal business is an investment holding company. The head office of the Acquiror is 10220 – 184 Street N.W., Edmonton, Alberta T5S 0B9.
The Acquiror’s Early Warning Report reflecting the Acquisition is available under Rifco’s SEDAR profile at www.sedar.com.
For further information please contact Brent Lydiatt, Chief Financial Officer and Secretary of 933672 Alberta Ltd. at 780.660.1887.