Significant Outside Position Announced TORONTO, June 11, 2021 (GLOBE NEWSWIRE) -- FAX Capital Corp. (FAX or the Company) (TSX: FXC & FXC.WT) is pleased to announce that it has acquired ownership of 902,000 common shares (the Shares) of BioSyent Inc. (BioSyent) (TSXV: RX) through the facilities of the Neo Exchange Inc. (the Acquisition). The Shares were acquired at an average price of $7.50 per Share and an aggregate purchase price of $6,765,000. Immediately prior to the Acquisition, the Company owned 1,219,100 Shares, representing 9.59% of the outstanding Shares. Following the completion of the Acquisition, FAX now owns 2,121,100 Shares, representing 16.69% of the total number of outstanding Shares of BioSyent.
The Company currently has no plans or intentions with respect to the acquired Shares of BioSyent and the Shares are being held for investment purposes. In the future, the Company may acquire additional Shares, or dispose of its holdings, both as investment conditions warrant.