Flow Capital Announces Completion of Substantial Issuer Bid

TORONTO, October 17, 2019 – Flow Capital Corp. (TSXV: FW) (the “Company”) announced today the final results of its substantial issuer bid (the “Offer”) to repurchase for cancellation of up to $4 million of its common shares (the “Shares”) by way of a modified Dutch auction from holders of such Shares. The Offer expired at 5:00 p.m. (Eastern Time) on October 7, 2019.

Based on the final count by Computershare Trust Company of Canada, as depositary for the Offer (the “Depositary”), the Company has taken up and paid for 5,708,090 Shares at a price of $0.20 per Share (the “Purchase Price”), for an aggregate purchase price of $1,141,618 excluding fees and expenses related to the offer. 

The Shares purchased for cancellation under the Offer represent approximately 6.84% of the issued and outstanding Shares before giving effect to the Offer. Following the cancellation, the Company has 77,694,674 Shares outstanding. 

Based on the final count by the Depositary, a total of 5,708.090 Shares were properly tendered to the Offer and not properly withdrawn at or below the Purchase Price. The Company has made price to the Depositary in accordance with the Offer and applicable laws, and payment to the shareholders has been effected by the Depositary. Payment for the Shares has been made in cash, without interest. Any Shares invalidly tendered or tendered and not purchased will be returned to the tendering shareholder promptly by the Depositary. 

The full details of the Offer are described in the Company’s offer to purchase and issuer bid circular dated August 29, 2019, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which are available on SEDAR under the Company’s profile at www.sedar.com. 

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any Shares.

About Flow Capital

Flow Capital Corp. is a diversified alternative asset investor and advisor, specializing in providing minimally dilutive capital to emerging growth businesses. To apply for financing, visit www.flowcap.com.

For further information, please contact:

Flow Capital Corp.

Alex Baluta
Chief Executive Officer
[email protected] 

1 Adelaide Street East, Suite 3002,
Toronto, Ontario M5C 2V9

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.