Nanaimo, British Columbia--(Newsfile Corp. - May 13, 2016) - Mike Jenks (the "Acquiror") issues this press release pursuant to Part 3 - Early Warning Requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues with respect to Jemi Fibre
Corp. (TSXV: JFI) ("Jemi Fibre"),
1110 - 1111 West Georgia Street, Vancouver, British Columbia V6E 4M3. Jemi
Fibre trades on the TSX Venture Exchange under the symbol
"JFI".
On May 13, 2016, 32,999,999
common shares in the capital of Jemi Fibre (the "Common Shares") owned by the
Acquiror were transferred to CanWel Building Materials Group Ltd. ("CanWel") in
connection with the closing of a court-approved plan of arrangement (the
“Arrangement”) under the Business Corporations Act
(British Columbia). In addition, the Acquiror surrendered 10,666,666 Common Share purchase
warrants to Jemi Fibre for cancellation and the Acquiror's 2,175,000 incentive stock options were cancelled
upon completion of the Arrangement in accordance with the terms of Jemi Fibre's incentive stock option.
Pursuant to the terms of the Arrangement, the Acquiror is entitled to
receive 0.03212 of a CanWel common share in exchange for each Common Share held. A copy of
the Acquiror's related early warning report has been
filed with the applicable securities commissions and further information may be obtained by contacting
Jemi Fibre at (604) 428-1075.
(Not for dissemination in the United States of America)
