Delta, British Columbia--(Newsfile Corp. - October 28, 2021) - Fab-Form Industries Ltd. (TSXV: FBF) ("Fab-Form") is pleased to report that, pursuant to its October 18, 2021 news release, it has completed shares for debt settlement of $144,089.55 by issuing 261,981 common shares at a deemed price of $0.55 per share. The securities issued are subject to a four-months hold period expiring on 28 February 2022.
Insiders purchased 127,111 shares and, accordingly, the shares for debt settlement 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), 5.6 and 5.7(1)(a) of Regulation 61-101.
About Fab-Form Industries Ltd
Fab-Form Industries Ltd ("Fab-Form") is a leading eco-friendly concrete forming products manufacturer located in Vancouver, BC Canada. Since its inception in 1986, the Company has invented, developed, and commercialized foundation products that are greener and more sustainable for the building industry.
The Company develops, manufactures, and distributes proprietary technology to form concrete footings, columns, foundations, and walls for building structures. The Company also exclusively distributes Helix® micro rebar into the BC market and Nudura® insulating concrete form into the Lower Mainland market. The Company has traded on the TSX Venture Exchange ("TSXV" under the symbol FBF) since 2000.
On behalf of the Board of Directors
/s/ Richard Fearn
Richard Fearn, President and CEO
FAB-FORM INDUSTRIES LTD.
Unit 19, 1610 Derwent Way,
Delta, BC V3M 6W1
TOLL FREE (888) 303-3278
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