Fab-Form Industries Ltd Announces Shares for Debt Settlement of $123,040.56

Delta, British Columbia–(Newsfile Corp. – November 23, 2022) – Fab-Form Industries Ltd. (TXSV: FBF) (“Fab-Form”) is arranging shares for debt settlement consisting of 90,471 shares, priced at $1.36 per share. The arrangement is a settlement of compensation owed to non-arm’s length parties under section of 6.3 under Regulation 61-101.

Pursuant to the terms and subject to the conditions of the agreements with the creditors/non-arm’s length parties (the “Debt Settlement Agreements“), the Company will issue an aggregate of 90,471 Common Shares (each a “Common Share“) to each creditor/non-arm’s length party at a deemed price of $1.36 per Common Share, in satisfaction of the Debt.

The transaction includes insider participation and total aggregate of 39,311 shares at $1.36 per share will be issued to the insiders in satisfaction of debt. Accordingly, the shares for debt settlement is a “related party transaction” within the meaning of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-101”). The Insiders’ participation is exempt from the formal valuation and minority shareholder approval requirements provided under Regulation 61-101 in accordance with sections 5.5(a), 5.6 and 5.7(1)(a).

The issuance of the Common Shares to the Creditors pursuant to the Debt Settlement Agreements is subject to the approval of the TSX Venture Exchange. The Common Shares will be subject to a statutory resale restriction which will expire four months and one day from the date of issuance in accordance with applicable securities laws.

About Fab-Form Industries Ltd

Fab-Form Industries Ltd (“Fab-Form”) is a leading eco-friendly concrete forming products manufacturer located in Vancouver, BC Canada. Since its inception in 1986, the Company has invented, developed, and commercialized foundation products that are greener and more sustainable for the building industry.

The Company develops, manufactures, and distributes proprietary technology to form concrete footings, columns, foundations, and walls for building structures. The Company also exclusively distributes Helix® micro rebar into the BC market and Nudura® insulating concrete form into the Lower Mainland market. The Company has traded on the TSX Venture Exchange (“TSXV” under the symbol FBF) since 1999.

On behalf of the Board of Directors

/s/ Richard Fearn

Richard Fearn, President, and CEO
FAB-FORM INDUSTRIES LTD.
Unit 19, 1610 Derwent Way,
Delta, BC V3M 6W1
Canada.

Company Contact: Richard Fearn | [email protected] | 604 596-3278

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