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    FBF   CA3027351053

FAB-FORM INDUSTRIES LTD.

(FBF)
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Fab Form Industries : Notice of Debt Settlement

10/18/2021 | 05:12pm EST

Unit 19, 1610 Derwent Way, Delta, BC, V3M 6W1, Canada, www.fab-form.com, TOLL FREE (888) 303-3278

NEWS RELEASE

FAB-FORM INDUSTRIES LTD ANNOUNCES SHARES FOR DEBT SETTLEMENT OF $144,089.55 FOR THE PURPOSE OF FINANCING ONGOING PROJECTS AND IMPROVING WORKING CAPITAL.

DELTA, BC (October 18, 2021) The Company arranging shares for debt settlement consisting of 261,981 units, priced at 0.55 per unit. Each unit consists of one common share of the Company. The proceeds of the debt settlement will be used for;

  1. the research and development of optimized fabric for Fast-Tube® which will include travelling and related testing costs;
  2. to replace the existing Fastfoot machinery for which the design was completed at the end 2nd quarter 2021;
  3. to procure new machinery for Monopour assembling; and
  4. to improve general working capital.

Pursuant to the terms and subject to the conditions of the agreements with the creditors (the "Debt Settlement Agreements"), the Company will issue an aggregate of 261,981 Common Shares (each a "Common Share") to the creditor at a deemed price of $0.55 per Common Share, in satisfaction of the Debt.

The issuance of the Common Shares to the Creditor pursuant to the Debt Settlement Agreements is subject to the approval of the TSX Venture Exchange. The Common Shares will be subject to a statutory resale restriction which will expire four months and one day from the date of issuance in accordance with applicable securities laws.

About Fab-Form Industries Ltd

Fab-Form Industries Ltd ("Fab-Form") is a leading eco-friendly concrete forming products manufacturer located in Vancouver, BC Canada. Since its inception in 1986, the Company has invented, developed, and commercialized foundation products that are greener and more sustainable for the building industry.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

The Company develops, manufactures, and distributes proprietary technology to form concrete footings, columns, foundations, and walls for building structures. The Company also exclusively distributes Helix® micro rebar into the BC market and Nudura® insulating concrete form into the Lower Mainland market. The Company has traded on the TSX Venture Exchange ("TSXV" under the symbol FBF) since 2000.

On behalf of the Board of Directors

Richard Fearn, President and CEO

FAB-FORM INDUSTRIES LTD.

Unit 19, 1610 Derwent Way,

Delta, BC V3M 6W1

Canada.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Disclaimer

Fab-Form Industries Ltd. published this content on 18 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2021 21:11:05 UTC.


ę Publicnow 2021
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Financials
Sales 2020 2,63 M 2,09 M 2,09 M
Net income 2020 0,22 M 0,17 M 0,17 M
Net cash 2020 0,83 M 0,66 M 0,66 M
P/E ratio 2020 15,6x
Yield 2020 -
Capitalization 8,03 M 6,41 M 6,38 M
EV / Sales 2019 0,95x
EV / Sales 2020 0,99x
Nbr of Employees -
Free-Float 64,9%
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Income Statement Evolution
Managers and Directors
Richard N. Fearn President, CEO & Non-Independent Director
Don Russell Chairman
Stephen Gabbot Information Manager
Joey Fearn Non-Independent Director, VP & Operations Manager
Nigel Protter Independent Director
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