VANCOUVER, BC, April 7,
2022 /CNW/ - Belkorp Industries Inc.
("Belkorp") is pleased to announce that it has today
acquired 195,000 common shares (the "Purchased Shares") of
Dominion Lending Centres Inc. (formerly Founders Advantage Capital
Corp.) (TSX: DLCG) (the "Issuer" or "DLC"), at a
purchase price of $4.00 per Purchased
Share for an aggregate purchase price of $780,000.
Immediately prior to the acquisition of the Purchased Shares,
Belkorp held 12,614,214 common shares of the Issuer, representing
approximately 27.17% of the Issuer's issued and outstanding common
shares (on a non-diluted basis). Immediately following the
acquisition of the Purchased Shares, Belkorp owns 12,809,214 common
shares, representing approximately 27.59% of DLC's issued and
outstanding common shares (on a non-diluted basis). While the
acquisition of the Purchased Shares is not a significant number of
common shares of the Issuer, Belkorp's last early warning report
was filed on January 4, 2021 (the
"Prior EWR") and DLC has since (i) completed issuer bids
which reduced the issued and outstanding common shares, and (ii)
issued 1,853,247 common shares in connection with an
acquisition. As at the date of the Prior EWR, Belkorp
reported that it owned 26.31% of DLC's issued and outstanding
common shares.
The Purchased Shares were acquired in a pre-arranged block trade
through the facilities of the Toronto Stock Exchange, facilitated
by a Canadian broker-dealer, as agent for Belkorp, and were
acquired for investment purposes. Belkorp has a long-term view of
the investment, but may in the future increase or decrease its
shareholding in DLC, depending on market conditions, reformulation
of plans and/or other relevant factors. In acquiring the
Purchased Shares, Belkorp relied on the "Private Agreement
Exemption" set out in Section 4.2 of National Instrument 62-104
– Take-Over Bids and Issuer Bids.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING
REPORT REQUIRED BY SECURITIES LEGISLATION, PLEASE CONTACT:
Belkorp Industries Inc.
Suite 900, 1508 West Broadway
Vancouver, BC V6J 1W8
SOURCE Belkorp Industries Inc.