VANCOUVER, BC / ACCESSWIRE / May 29, 2023 / Affinity Fortune Investments Co., Ltd ("AFI"), a BVI company engaged primarily in investment management and consulting, announced that it has acquired all of the issued and outstanding shares of TR International Investment Limited ("TR") from Milestone Resources Limited ("Milestone"), a Chinese corporation, as part of a debt restructuring transaction between AFI and Milestone. The transaction was valued as CAD$15,000,000. TR is also a BVI company that holds 44,444,446 common shares of Western Resources Corp. ("WRX")(TSX: WRX), representing approximately 10.88% of the total issued and outstanding common shares of WRX, calculated on a non-diluted basis as of the date of the acquisition. The acquisition consideration represents CAD$0.3375 per WRX common share.
AFI's acquisition is for strategic investment purposes.
This news release is issued pursuant to National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the related early warning report will be filed with the applicable securities commissions and be available under WRX's profile on SEDAR at www.sedar.com, and may also be obtained by contacting Yanbin Xing at Affinity Fortune Investments Co., Ltd at (639) 631-2066. The registered office of AFI is at: Sea Meadow House, Blackburne Highway, Road Town, Tortola, British Virgin Islands.
SOURCE: Affinity Fortune Investments Co., Ltd.
View source version on accesswire.com:https://www.accesswire.com/757766/Affinity-Fortune-Investments-Announces-Acquisition-of-Common-Shares-of-Western-Resources-Corp
