Helios Fairfax Terminates Automatic Share Purchase Plan

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TORONTO, May 03, 2022 (GLOBE NEWSWIRE) -- Helios Fairfax Partners Corporation (“Helios Fairfax”) (TSX: HFPC.U) announces today that in connection with its normal course issuer bid, it has terminated its previously-announced automatic share purchase plan with the securities dealer acting as Helios Fairfax’s agent, pursuant to which the securities dealer could acquire, at its discretion, subordinate voting shares of Helios Fairfax (“Subordinate Voting Shares”) under Helios Fairfax’s TSX-approved normal course issuer bid (the “NCIB”) at times when Helios Fairfax normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods. The termination is effective May 2, 2022.

Helios Fairfax confirms that at the time of sending the notice of termination of the automatic share purchase plan, it did not possess knowledge of any material fact or material change about Helios Fairfax, the Subordinate Voting Shares or any of its other securities that has not been generally disclosed.

The NCIB remains in effect, under which Helios Fairfax is entitled to repurchase for cancellation, subject to compliance with applicable corporate and securities laws, up to 2,666,826 Subordinate Voting Shares over a twelve-month period ending on July 7, 2022. The Subordinate Voting Shares may be purchased through the facilities of the Toronto Stock Exchange (or alternative Canadian trading systems). As of the date hereof, Helios Fairfax had purchased for cancellation a total of 947,384 Subordinate Voting Shares pursuant to the NCIB for an aggregate purchase price of approximately US$2.9 million.

Helios Fairfax Partners Corporation is an investment holding company whose investment objective is to achieve long term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in Africa and African businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, Africa.