BROOKFIELD, NEWS, June 08, 2020 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A, NYSE: BAM) reports that, through a subsidiary, it has entered into a subscription agreement with Superior Plus Corp. (“Superior”) for the purchase of
The Preferred Stock may be exchanged, at Brookfield’s option, into common shares of Superior (“Common Shares”) at an exchange price of
Immediately prior to entering into the Transaction, Brookfield and its affiliates owned no voting or equity securities in the capital of Superior. Upon completion of the Transaction, Brookfield and its affiliates will own 260,000 shares of Preferred Stock, representing approximately 15% of the then-outstanding Common Shares, assuming the exchange of the outstanding Preferred Stock owned or controlled by Brookfield and its affiliates for Common Shares.
Brookfield, through its subsidiary, has agreed to acquire the Preferred Stock for investment purposes.
This news release is issued under the early warning provisions of the Canadian securities legislation. An early warning report with additional information in respect of the foregoing matters will be filed and made available on the System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Superior’s profile.
Superior’s head office is located at 401-200 Wellington Street West,
Brookfield Asset Management Inc. is a leading global alternative asset manager with over US$515 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.
Brookfield Asset Management is listed on the
For more information, please visit our website at www.brookfield.com or contact:
| Communications & Media: Claire Holland Tel: (416) 369-8236 Email: [email protected] |
Investor Relations Linda Northwood Tel: (416) 359-8647 Email: [email protected] |
Source: Brookfield Asset Management Inc
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