Sym-Tech Inc. Announces Current Holdings of Shares in Rifco Inc. and Recent Acquisitions

TORONTO, March 16, 2018 /CNW/ - Sym-Tech Inc. ("Sym-Tech") announced today its current holdings of common shares in Rifco Inc. ("Rifco"), as well as those of its direct or indirect controlling shareholder, Mr. Bradley W. Wells, as well as certain recent acquisitions of common shares of Rifco.

On August 17, 2016, Sym-Tech reported the ownership, with persons it indicated were presumed to be joint actors, of 2,364,100 common shares, or 10.96% of the total issued and outstanding common shares of Rifco.

Since August 17, 2016, Sym-Tech and/or Wells have acquired additional common shares of Rifco Issuer through acquisitions on The TSX Venture Exchange, including those reported in news releases issued on Aug. 17, 2017, Oct. 31, 2017 and Dec. 20, 2017 and in Mr. Wells' insider reports on SEDI. A total of 1,298,700 common shares were acquired during this period at prices ranging between $1.11 and $1.74 per share.

As of Dec. 20, 2017, Mr. Wells held 1,608,600 common shares of Rifco directly, and 1,937,600 common shares of Rifco indirectly through Sym-Tech. In addition, one other director or officer of Sym-Tech, Mr. Chris Cawston, controlled 112,000 common shares of Rifco. In total, these three persons or companies collectively held or controlled 3,662,800 common shares of Rifco as at Dec. 20, 2017, or 17% of the total issued and outstanding common shares.

Between March 2, 2018 and March 7, 2018, Mr. Wells acquired an additional 39,400 common shares of Rifco at prices between $1.08 and $1.17 per share. Accordingly, in total, Sym-Tech and Messrs. Wells and Cawston collectively held or controlled 3,702,200 common shares of Rifco as at March 7, 2018, or 17.14% of the total issued and outstanding common shares.

Sym-Tech and Mr. Wells acquired the common shares of Rifco for investment purposes. They expect that they will, from time to time, review their investment position in Rifco and may, depending upon market and other conditions, increase or decrease their investment position in the common shares or other securities of Rifco.

The address of Rifco Inc. is Suite 500, Central Block, 5000 Gaetz Avenue, Red Deer, Alberta T4N 6C2. The addresses of Sym-Tech and of Mr. Wells are 35 West Pearce Street, Unit 14, Richmond Hill, Ontario L4B 3A9.

SOURCE Sym-Tech Inc.