FAX Capital Corp. Provides Anticipated Date for Q3 Results and Portfolio Update

NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWS WIRE SERVICESTORONTO, Oct. 01, 2020 (GLOBE NEWSWIRE) — FAX Capital Corp. (the Company or we) (TSX: FXC and FXC.WT) today announced that it expects to report its results for the third quarter ended September 30, 2020 on Friday, November 6, 2020 and provided an update on its portfolio of investments.Public Investments UpdateThe Company intends to invest 60-80% of its capital in publicly listed companies. The share prices of our previously disclosed portfolio investments performed well during the third quarter of 2020*:Information Services Corporation (TSX): +28%People Corporation (TSXV): +22%Hamilton Thorne Ltd. (TSXV): +18%Points International Ltd. (TSX, NASDAQ): +4%*based upon publicly available information of each public portfolio investment’s respective share performance during the period of July 1, 2020 to September 30, 2020 (inclusive), including dividends, where applicable, and excluding any additional acquisitions made by the Company during the period. Source: Bloomberg, as at September 30, 2020.The Company continues to make progress on its capital deployment. During Q3, we began to accumulate a new public company investment, and subsequent to quarter end the Investment Committee also approved a 6th public company investment.Given the nature of the V-shaped market recovery and the run-up in valuations, the Company’s capital allocation slowed in Q3 compared to previous quarters, but continues on a healthy pace. We remain committed to taking a thorough and patient approach to investing and will not waiver from our disciplined diligence process in reviewing and structuring potential transactions to ensure only the highest quality investments are made.Private Investments UpdateThe Company intends to invest 20-40% of capital in private investments, and remains sharply focused on its robust pipeline of opportunities. We caution, however, that private transactions do take time due to the requirement for detailed and in-depth due diligence, as well as the incremental challenges posed by COVID-19. Despite this, we remain confident in executing a private transaction under our original stated timeline.The Company will provide further commentary on its portfolio in its Q3 2020 disclosure.About FAX Capital Corp.The Company is an investment holding company with a business objective to maximize its intrinsic value on a per share basis over the long-term by seeking to achieve superior investment performance commensurate with reasonable risk. The Company intends to invest in equity, debt and/or hybrid securities of high-quality businesses. The Company initially intends to invest in approximately 10 to 15 high-quality small cap public and private businesses located primarily in Canada and, to a lesser extent, the United States.For additional information please contact:Investor and Media Relations
Tim Foran, Investor Relations
Telephone: (416) 860-6108
Email: [email protected]
Website: www.faxcapitalcorp.com
Cautionary Note Regarding Forward-Looking InformationThis press release contains forward-looking information. Such forward-looking information or statements (FLS) are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such FLS may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. FLS contained or referred to in this press release includes, but is not limited to, the future or expected performance of the Company’s portfolio investments; the Company’s continuing investment thesis in respect of such portfolio investments; the Company’s investment approach, objectives and strategy, including investment selection and pace of continued investment; the structuring of its investments and its plans to manage its investments.FLS is based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such FLS is reasonable, undue reliance should not be placed on FLS because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such FLS include, but are not limited to, the continued impact of coronavirus (COVID-19), as well as the identified risk factors included in the Company’s public disclosure, including the annual information form dated March 26, 2020, which is available on SEDAR at www.sedar.com and on the Company’s website at www.faxcapitalcorp.com. The FLS in this press release reflect the current expectations, assumptions, judgements and/or beliefs of the Company based on information currently available to the Company, and are subject to change without notice.Any FLS speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any FLS, whether as a result of new information, future events or results or otherwise. The FLS contained in this press release are expressly qualified by this cautionary statement. For more information on the Company, please review the Company’s continuous disclosure filings that are available at www.sedar.com.No securities regulatory authority has either approved or disapproved of the contents of this news release. The Toronto Stock Exchange accepts no responsibility for the adequacy or accuracy of this release.

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