Brampton Brick Limited Amalgamates with BBL Acquisitions Inc.

June 23, 2021 12:45 PM EDT | Source: Brampton Brick Limited

Toronto, Ontario--(Newsfile Corp. - June 23, 2021) - Brampton Brick Limited (TSX: BBL.A) ("BBL") announced that it has today filed articles of amalgamation with the Director under the Ontario Business Corporations Act to effect the amalgamation of BBL and BBL Acquisitions Inc. ("Acquisitions") (the "Amalgamation"), with the corporation continuing from the Amalgamation known as "Brampton Brick Limited" ("Amalco"), as described in BBL's management information circular dated May 10, 2021 provided in connection with the special meeting of shareholders of BBL held on June 14, 2021.

The Amalgamation was the second-step transaction referred to in BBL's and Acquisition's joint press releases of March 22, 2021 and June 14, 2021.

Every holder of Class A Subordinate Voting shares ("Class A Shares") of BBL [TSX: BBL.A] (other than Class A Shares beneficially owned, or over which control or direction is exercised, by any shareholder of BBL who has validly exercised his right to dissent pursuant to Section 185 of the Ontario Business Corporations Act) will receive a redeemable preferred share of Amalco, which will be redeemed by Amalco at a price of $12 per share. Upon the Amalgamation, the Class A Shares and Class B Multiple voting shares in the capital of BBL beneficially owned by Acquisitions were cancelled.

Amalco has applied to delist the Class A Shares from the Toronto Stock Exchange and will apply shortly to cease to be a reporting issuer in each of the Provinces and Territories of Canada in which it is a reporting issuer.

Brampton Brick Limited is Canada's second largest manufacturer of clay brick, serving markets in Ontario, Quebec and the Northeast and Midwestern United States from its brick manufacturing plants located in Brampton, Ontario and Farmersburg, Indiana. To complement the clay brick product line, the Company also manufactures a range of concrete masonry products, including concrete brick and block as well as stone veneer products. Concrete interlocking paving stones, retaining walls, garden walls and enviro products are manufactured and distributed from facilities in Markham, Hillsdale, Brockville, Cambridge and Brampton, Ontario, in Boisbriand, Quebec and in Wixom, Michigan, and sold to markets in Ontario, Quebec, Michigan, New York, Pennsylvania, Ohio, Kentucky, Illinois and Indiana under the OaksTM and BoehmersTM trade names. The Company's products are used for residential construction and for industrial, commercial, and institutional building projects.

For more information please contact:

Jeffrey G. Kerbel
President, Chief Executive Officer and Chairman of the Board, Brampton Brick Limited
President and Chief Executive Officer, BBL Acquisitions Inc.
Tel: 905 840-1011
Email: jkerbel@kerbel.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88429

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