TORONTO, July 24, 2024 (GLOBE NEWSWIRE) -- This press release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report by FAX Capital Corp. (FAX) regarding the disposition of common shares (Shares) of BioSyent Inc. (BioSyent) (TSXV:RX) through the facilities of the TSX Venture Exchange.
FAX announces that, on July 23, 2024, it disposed of 500,000 Shares of BioSyent at an average price of $10.05 per Share and received aggregate consideration of $5,025,000 (the Disposition). Immediately prior to the Disposition, FAX owned and controlled 2,081,100 Shares, representing 17.96% of the total number of issued and outstanding Shares of BioSyent. Following the Disposition, FAX now owns and controls 1,581,100 Shares, representing an aggregate securityholding percentage of 13.65%.
FAX currently has no plans or intentions with respect to its remaining Shares of BioSyent and such Shares will continue to be held for long-term investment purposes. In the future, FAX may acquire additional Shares, or dispose of its holdings, both as investment conditions warrant.
BioSyent is a publicly traded specialty pharmaceutical company which, through its wholly owned subsidiaries, BioSyent Pharma Inc. and BioSyent Pharma International Inc., sources, acquires or in-licences and further develops pharmaceutical and other healthcare products for sale in Canada and certain international markets. The head office of BioSyent is located at 2476 Argentia Road Suite 402, Mississauga, Ontario, L5N 6M1.
A copy of the early warning report will be available under BioSyent’s profile on SEDAR+ at www.sedarplus.ca, or may be obtained by contacting Ryan Caughey, General Counsel and Corporate Secretary at (647) 696-4679. FAX is a corporation incorporated under the laws of Canada and its head office is located at 2 Bloor Street East, Suite 701, Toronto, Ontario, M4W 1A8.
About FAX Capital Corp.
FAX is an investment company focused on the long-term asset management of high-quality investments within North America. FAX’s investment focus is the acquisition of a concentrated portfolio of public and private securities, with the flexibility to invest across the capital structure and in a wide variety of industries. www.faxcapitalcorp.com.
For additional information please contact:
Investor Relations - Email: IR@faxcapital.com
