Brampton Brick Limited Announces Insider Bid and Abridgement of Deposit Period

Toronto, Ontario–(Newsfile Corp. – December 29, 2020) – Brampton Brick Limited (TSX: BBLA) (“BBL“) and BBL Acquisitions Inc. (the “Offeror“) jointly announce today that pursuant to a support agreement dated December 14, 2020 (the “Support Agreement“) between BBL and the Offeror, as announced by BBL and the Offeror on December 14, 2020, the Offeror has formally commenced an insider bid to acquire all of the issued and outstanding Class A Subordinate Voting shares (the “Class A Shares“) of BBL (other than Class A Shares beneficially owned, or over which control or direction is exercised, by the Offeror or any person acting jointly or in concert with the Offeror) at a price of $12 per share (the “Offer“).

Pursuant to the Support Agreement and applicable Canadian securities laws, the board of directors of BBL has agreed to abridge the initial deposit period from 105 days to 60 days plus one business day. Accordingly, the Offer allows the Class A Shares which are the subject of the Offer to be deposited up to 5:00 p.m. (Toronto time) on March 1, 2021.

The Offeror’s take-over bid circular and BBL’s directors’ circular, each dated December 21, 2020, have been mailed to all BBL shareholders today and copies of those documents are available on BBL’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

For more information please contact:

John Piecuch
Chair of the Special Committee
Brampton Brick Limited
Email: johnmpiecuch@aol.com

or

Jeffrey G. Kerbel
Chief Executive Officer
BBL Acquisitions Inc.
Tel: 905-840-1011
Email: jkerbel@kerbel.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71117