VANCOUVER, British Columbia, Nov. 17, 2017 (GLOBE NEWSWIRE) -- Genghis S.á.r.l. (“Genghis”), a limited liability company having its head office at 52-54 Avenue du X Septembre, L-2550 Luxembourg, announced today that, on November 17, 2017, Genghis acquired 18,460,760 common shares (“Common Shares”) of Taiga Building Products Ltd. (“Taiga”), a company with a head office at #800 - 4710 Kingsway, Burnaby, British Columbia, Canada, at a deemed purchase price of CDN$1.20 per Common Share for an aggregate deemed purchase price of CDN$22,152,912. Genghis acquired the Common Shares pursuant to the terms of the exchange offer (the “Exchange Offer”) described in the Exchange Offer Circular of Taiga dated September 29, 2017. The acquisition was completed through Genghis’ wholly owned subsidiary, Kublai Canada Limited (“Kublai”), a corporation having its registered office at 1200 Waterfront Centre, 200 Burrard Street, Vancouver, Canada. Pursuant to the terms of the Exchange Offer, Kublai tendered $22,653,543 principal amount of 14% unsecured subordinated notes of Taiga due September 1, 2020, in exchange for the acquired Common Shares. Prior to the acquisition, Genghis owned, directly or indirectly, or exercised control or direction over no Common Shares. After the acquisition and the closing of the Exchange Offer, Genghis now owns, directly or indirectly, or exercises control or direction over, 18,460,760 Common Shares, representing approximately 15.8% of the total number of issued and outstanding Common Shares. This change represents an increase of approximately 15.8% in the total number of issued and outstanding Common Shares held by Genghis. The acquisition was made for investment purposes. Genghis and Kublai may, in the future, increase or decrease their beneficial ownership, control or direction over securities of Taiga.
For more information, or to obtain a copy of the subject early warning report, please contact:
Kublai Canada Limited
1200 Waterfront Centre, 200 Burrard Street,
Vancouver, Canada V7X 1T2
Telephone: 604-781-8155