Business
Fab-Form Announces Completion of Private Placement
Delta, British Columbia--(Newsfile Corp. - February 21, 2018) - Fab-Form Industries Ltd. (TSXV...
About this update from Fab-form Industries Ltd
[{"type":"text","content":"Fab-Form Announces Completion of Private PlacementDelta, British Columbia--(Newsfile Corp. - February 21, 2018) - Fab-Form Industries Ltd. (TSXV: FBF) (\"Fab-Form\") is pleased to announce it has completed a non-brokered private placement with accredited investors, directors and officers of Fab-Form (the \"Insiders\"), family members, employees, close friends and business associates by issuing a total of 702,710 common shares at $0.50 per share, for total gross proceeds of $351,355. The securities issued in the private placement are subject to a four-month hold period expiring on 14 May 2018.Insiders purchased 143,910 shares and, accordingly, the private placement is a \"related party transaction\" within the meaning of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (\"Regulation 61-101\"). The Insiders' participation is exempt from the formal valuation and minority shareholder approval requirements provided under Regulation 61-101 in accordance with sections 5.5(a) and 5.7(1)(a) of Regulation 61-101.As a result of the private placement, there are 8,500,698 common shares of Fab-Form issued and outstanding. No commissions nor finder's fees were paid to any party. Nor were any warrants or options issued with the offering which would future-dilute existing shareholders holdings.About Fab-Form Industries Ltd.Fab-Form designs, develops and commercializes sustainable foundations for the construction industry. The interface of building components with the ground has always be costly and inefficient. Fab-Form develops products that automate this interface.Contact InformationRick Fearn, [email protected] INDUSTRIES LTD., www.fab-form.comUnit 19, 1610 Derwent WayDelta, BC V3M 6W1604.596.3278 Ext 101Forward Looking StatementsCertain information included in this news release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as \"anticipate\", \"believe\", \"expect\", \"plan\", \"intend\", \"estimate\", \"propose\", \"project\" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release may include, but is not limited to, the size of the private placement, the use of proceeds of the private placement and the closin...