Mosaic Capital closes plan of arrangement

On August 5, 2021, Mosaic Capital Corporation ("Mosaic") announced the closing of a previously announced arrangement with 2356430 Alberta Inc. (the "Purchaser"), a newly formed private company owned by an entity controlled by Fairfax Financial Holdings Limited and MCC Holdings Ltd., pursuant to which the Purchaser acquired all of the outstanding common shares of Mosaic for C$5.50 per share in cash and all of Mosaic's outstanding convertible unsecured subordinated debentures for consideration of C$1,000 plus accrued and unpaid interest for each C$1,000 principal amount, in an all-cash transaction valued at approximately C$277.3 million including net debt.

The transaction was implemented through a statutory plan of arrangement under the Business Corporations Act (Alberta).

Mosaic’s common shares and debentures were each delisted from the TSX Venture Exchange effective as of the close of trading on August 5, 2021.

Further information can be found on Newsfile’s website.

Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Its strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth.

Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

MCC Holdings is a company controlled by Mark Yusishen, a Canadian businessman who owns, directly or indirectly, a number of private businesses throughout Canada and the United States.