TORONTO, ONTARIO--(Marketwired - March 2, 2017) -

Not for distribution to U.S. News Wire Services or dissemination in the United States.

Fairfax Africa Holdings Corporation (TSX:FAH.U) ("Fairfax Africa" or the "Company") announced today that the Company has issued an additional 408,000 subordinate voting shares pursuant to the exercise of the over-allotment option granted to a syndicate of underwriters in connection with the Company's recent initial public offering (the "Offering") of subordinate voting shares which closed on February 17, 2017. Pursuant to the over-allotment option, the Underwriters purchased an additional 408,000 subordinate voting shares at a price of US$10.00 per share for total gross proceeds of US$4,080,000. The exercise of the overallotment option has increased the total gross proceeds of the Offering to approximately $60.3 million.

RBC Capital Markets acted as Global Coordinator for the Offering in Canada and the United States. RBC Capital Markets, Citigroup and UBS acted as Joint Global Coordinators and bookrunners for the Offering in EMEA and elsewhere outside of Canada and the United States. RBC Capital Markets, Citigroup, UBS, BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc., Scotiabank and TD Securities Inc. acted as joint bookrunners for the Offering in North America, with Canaccord Genuity Corp., Cormark Securities Inc., Desjardins Capital Markets, GMP Securities L.P., Raymond James Ltd., Dundee Capital Partners and Manulife Securities Incorporated acted as co-managers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is not an offer of securities for sale in the United States, and the securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933.

About Fairfax Africa

Fairfax Africa is an investment holding company. Its investment objective is to achieve long-term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments of African businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, Africa ("African Investments"). Generally, subject to compliance with applicable law, African Investments will be made with a view of acquiring control or significant influence positions.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the prospectus of the Company dated February 8, 2017. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Contact Information:

Fairfax Africa Holdings Corporation
Michael Wilkerson
Chief Executive Officer
(416) 367-4941

Fairfax Africa Holdings Corporation
Guy Bentinck
Chief Financial Officer
(416) 367-4941