In the news release, Sym-Tech Inc. Announces Acquisition of
Shares in Rifco Inc., issued 17-Aug-2016 by Sym-Tech Inc. over CNW, the stock
symbol for Rifco Inc. is now included. The complete, corrected
release follows:
Sym-Tech Inc. Announces Acquisition of Shares in Rifco Inc.
TORONTO, Aug. 17, 2016 /CNW/ - Sym-Tech Inc. ("Sym-Tech")
announced today that on August 16,
2016, it acquired through private transactions, along with
its joint actors, beneficial ownership of 363,900 common
shares of Rifco Inc. (TSX.V-RFC, "Rifco), representing
approximately 1.69% of the issued and outstanding common shares of
Rifco (based on a total of 21,572,483 common shares issued and
outstanding) at a per share price of $1.60, for an aggregate price of $582,240. After giving effect to the
acquisition referred to above, Sym-Tech and its joint actors
beneficially own an aggregate of 2,364,100 common shares,
representing approximately 10.99% of the issued and outstanding
common shares of Rifco. Sym-Tech and its joint actors
acquired the common shares for strategic investment purposes.
Sym-Tech, an Ontario
corporation, is a leading Canadian F&I provider to the retail
automotive industry, offering F&I products, industry-proven
training and in-dealership development, as well as a proprietary
software platform to automobile dealerships in Canada.
Sym-Tech's head office is located at 35 West Pearce Street, Unit
14, Richmond Hill, ON, L4B 3A9.
Rifco's head office is located at Suite 500, Central Block, 5000
Gaetz Avenue, Red Deer, Alberta,
T4N 6C2.
Sym-Tech will be filing a report (as contemplated by National
Instrument 62-103 – The Early Warning System and Related
Takeover Bid and Insider Reporting Issues) in connection with
the acquisition of the Rifco common shares.
The common shares of Rifco Inc. are traded on the TSX Venture
Exchange under the symbol "RFC". There are 21.57 million shares
outstanding and 23.05 million (fully diluted) shares.
SOURCE Sym-Tech Inc.