Skip to main content

Founders Advantage Unwinds Forward Contract, Increases Liquidity

Written by Customer Service on . Posted in Public Companies.

CALGARY, Alberta, March 24, 2020 (GLOBE NEWSWIRE) — Founders Advantage Capital Corp. (TSX-V: FCF) (“FAC” or the “Corporation”) today announced that it has unwound its forward agreement to purchase $15 million USD in June, 2022 (entered into on December 11, 2019) in exchange for net cash proceeds of CAD$1.47 million. 
James Bell, President and CEO commented: “As we anticipate that COVID-19 will have some short-term impacts on our investee partners, we wanted to increase liquidity at FAC to allow us more financial flexibility.  As our USD denominated credit facility does not mature until June, 2022, we believe that maintaining short-term liquidity is a higher priority than managing our longer term foreign currency risk.”The Corporation maintains the ability to enter into forward contracts to purchase up to USD$25 million in the event that it elects to do so at a later date.About Founders Advantage Capital Corp.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.