Early Warning News Release Regarding Further Investment by Belkorp Industries Inc. in Founders Advantage Capital Corp.

About this update from Dominion Lending Centres, Inc. (canada) Class A

[{"type":"text","content":"\n \n \n \n Early Warning News Release Regarding Further Investment by Belkorp Industries Inc. in Founders Advantage Capital Corp.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n VANCOUVER, BC,\n \n Jan. 4, 2021\n \n /CNW/ - Belkorp Industries Inc. (\"\n \n Belkorp\n \n \") is pleased to announce that it has acquired 4,285,714 common shares (the \"\n \n Private Placement Shares\n \n \") of Founders Advantage Capital Corp. (TSXV: FCF) (\"\n \n Founders Advantage\n \n \"), on a private placement basis from the treasury of Founders Advantage, at a purchase price of\n \n $1\n \n .75 per Private Placement Share for an aggregate purchase price of approximately\n \n $7,500,000\n \n .\n \n \n Immediately prior to the acquisition of the Private Placement Shares, Belkorp held 7,991,000 common shares of the Issuer, representing approximately 20.98% of the Issuer's issued and outstanding common shares (on a non-diluted basis).  Upon the acquisition of the Private Placement Shares, Belkorp owns 12,276,714 common shares, representing approximately 26.31% of Founders Advantage's issued and outstanding common shares (on a non-diluted basis).\n \n \n The Private Placement Shares were acquired from the treasury of Founders Advantage on a private placement basis, and were acquired for investment purposes.  In a news release dated\n \n October 5, 2020\n \n , Founders Advantage announced an acquisition and a corporate reorganization.  In order to fund a portion of the acquisition, Founders Advantage announced that it may issue up to an aggregate of 4,285,714 common shares, at a price per share of\n \n $1.75\n \n , for aggregate gross proceeds of approximately\n \n $7.5 million\n \n (the \"\n \n Private Placement\n \n \"). Belkorp subscribed for all of the common shares offered under the Private Placement. The Private Placement was completed on\n \n January 1, 2021\n \n .\n \n \n Belkorp has a long-term view of the investment and does not intend at this time to acquire in the market any additional common shares ...

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