The Futura Corporation Announces Acquisition in CanWel Building Materials Group Ltd.

February 1, 2021 8:00 AM EST

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

VANCOUVER, British Columbia, Feb. 01, 2021 (GLOBE NEWSWIRE) -- The Futura Corporation ("Futura") announces that it has acquired 2,000,000 common shares of CanWel Building Materials Group Ltd. (“CanWel”) (TSX: CWX).

Based on CanWel’s latest reporting, Futura, along with joint actors, now owns 16,369,105 common shares representing approximately 20.99% of the issued and outstanding common shares of CanWel. Futura acquired these common shares for investment purposes. Futura may from time to time acquire additional securities of CanWel, dispose of some or all of the existing or additional securities, or continue to hold securities of CWX in the normal course of its investment activities.

Futura relied on Section 4.1 of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids in purchasing these common shares.

About Futura The Futura Corporation is a Vancouver, British Columbia based private asset management and investment company. Futura has interests in numerous private and public companies, and specializes in the building materials sector.

Contact Information The Futura Corporation Amar S. Doman President and CEO (604) 608-6600 PO Box 10017, Pacific Centre Vancouver, BC V7Y 1A1

Source: CanWel Building Materials Group Ltd.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Globe Newswire, Press Releases

Related Entities

Definitive Agreement