CFFI Ventures proposes to take BIOX private for $58M

BIOX Corporation (TSX: BX), a renewable energy company that owns and operates biodiesel production facilities, has received a non-binding offer from CFFI Ventures and affiliates whereby CFFI Ventures would acquire all of the outstanding common shares not owned for consideration of $1.23 per share.

Clearwater Fine Foods Incorporated, CFFI Ventures Inc., FP Resources Limited collectively control 16,030,913 BIOX shares (34.78%).

The transaction would value BIOX at $57.85 million in total equity value and $38.13 million to minority shareholders.

BIOX Corporation has also further extended the maturity date of a secured bridge note held by CFFI Ventures Inc. in the original aggregate principal amount of US $5,221,546 issued on January 1, 2017, from June 30, 2017 to September 30, 2017.

photo credit: BIOX Corporation

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.