Aeonian Capital Corporation Acquires Shares of PFB Corporation
Pursuant to the early warning requirements of applicable Canadian securities laws, Aeonian Capital Corporation , a private investment company incorporated in Alberta that is controlled by C. Alan Smith ("CAS"), announces that it has acquired ownership and control of an additional 25,000 common shares ("PFB Shares") of PFB Corporation (TSX:PFB) ("PFB"), representing approximately 0.37% of the issued and outstanding PFB Shares, at a price of $8.12 per PFB Share for a total cash purchase price of $203,000. Aeonian acquired the PFB Shares from a third party (the "Seller") on May 15, 2018 pursuant to a purchase and sale agreement.
Before giving effect to the transaction, Aeonian owned an aggregate of 2,967,668 PFB Shares representing approximately 44.2% of the issued and outstanding PFB Shares. After giving effect to the transaction, Aeonian owns an aggregate of 2,992,668 PFB Shares representing approximately 44.6% of the issued and outstanding PFB Shares.
The acquisition of the PFB Shares was completed pursuant to the private agreement exemption set forth in section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids ("NI 62-104") in accordance with the PSA between Aeonian and the Seller. The value of the consideration paid for the PFB Shares was not greater than 115% of the "market price" of the PFB Shares as of May 15, 2018 (as determined in accordance with section 1.11 of NI 62-104).
The acquisition of the PFB Shares was made in furtherance of Aeonian's and CAS' investment objectives. Aeonian and/or CAS may, from time to time, as market opportunities exist or develop, increase or decrease their ownership in PFB Shares as permitted by applicable securities laws.