CALGARY, Alberta, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Founders Advantage Capital Corp. (TSX-V: FCF) (the “Corporation”) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of $0.0125 per common share. The dividend will be payable on October 12, 2018 to shareholders of record as at the close of trading on September 28, 2018. The shares will commence trading on an ex-dividend basis on the opening of trading on September 27, 2018. The Corporation advises that the dividend to be paid on the common shares is designated as a “non-eligible dividend” for Canadian income tax purposes.
As previously announced, the Corporation initiated a strategic review process on August 8, 2018. The Corporation expects to announce the results of such review process prior to September 30, 2018.
Further, the Corporation announces that Melanie Litoski, the Corporation’s Chief Financial Officer, has advised that she will be leaving the Corporation to pursue another opportunity effective September 30, 2018. The Corporation intends on initiating a search for a new Chief Financial Officer on completion of its current strategic review process. Stephen Reid, President and Chief Executive Officer commented: “We’d like to thank Melanie for her efforts in building a strong finance team for FA Capital over the last year and significantly improving our financial disclosure. I would also like to thank our dedicated team of accounting professionals that comprise our finance team for their continued commitment to the Corporation during the current review process.”
About Founders Advantage Capital Corp.
The Corporation is listed on the TSX Venture Exchange as an Investment Issuer (Tier 1) and employs a long-term investment approach. The Corporation has developed an investment approach to create long-term value for its shareholders and partner entrepreneurs (investees) by pursuing controlling interest acquisitions of cash flow positive, premium middle-market privately-held entities. The Corporation seeks to win mandates by appealing to the segment of the market which is not aligned with traditional private equity control, royalty monetizations or related structures. The Corporation's innovative platform offers incentives (contractually) for growth in favour of our partner entrepreneurs. This unique platform is designed to appeal to entrepreneurs who believe in the growth of their businesses and who want the added ability to continue to manage the business with a long-term partner.
The Corporation's common shares are listed on the TSX Venture Exchange under the symbol “FCF”.
For further information please refer to the Corporation's website at www.advantagecapital.ca.
Contact information for the Corporation is as follows:
Amar Leekha
Senior Vice-President, Capital Markets
403-455-6671
aleekha@advantagecapital.ca
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.