From Sedar... The Futura Corporation (“Futura”) is considered to be a related party to the Company because of its share ownership interest and the fact that Mr. Doman, the sole shareholder and president of Futura, and Mr. Rosenfeld, the Executive Vice President of Futura, sit on the Board of Directors. Based on Tree Island Steel’s outstanding Shares as at July 27, 2021, Futura owns 34.4% of the fully diluted Shares of the Company. In addition, Mr. Doman is Chairman and CEO of Doman Building Materials Group Ltd. ("DBM" and formerly CanWel Building Materials Group Ltd). For the three and six months ended June 30, 2021, Tree Island sold, net of rebates, approximately $1.0 million and $1.9 million respectively ($0.6 million and $1.3 million in 2020) of goods to DBM and trade accounts receivable owing from DBM as at June 30, 2020 is approximately $0.5 million (approximately $0.2 million in 2020). Outstanding trade accounts receivable from DBM at period end are unsecured, interest free and settlement occurs in cash (Note 5)
WHO HIS Futura Corp.
The Futura Corporation, is one of the largest privately held corporation by revenues in British Columbia, is a leading asset management and investment firm. With major stakes in public companies, strategic investments in the private sector, loan portfolio administration, property management and ownership of private companies, The Futura Corporation is a diversified investment house with emphasis in the Building Materials sector
Futura is a value investor with the patience and foresight to invest in companies that are undervalued. Careful analysis of a company’s balance sheet, intimate knowledge of the specific industry and a review of management effectiveness, are all assessed prior to any investment.
Our objective is investment growth, over time, in companies that have sound fundamentals and proven management expertise. Through our direct and indirect ownership positions, we maintain a revenue base of over a Billion and a half Canadian dollars in revenues and employ close to 2,000 people.
https://www.futuracorporation.com/