Windfire Capital Corp. Provides Corporate Update
2000 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
NEX: WIF.H
WINDFIRE CAPITAL CORP. PROVIDES CORPORATE UPDATE
June 7, 2017 - Windfire Capital Corp. (WIF.H:NEX) (“ Windfire”) provides the following
corporate updates:
Management and Board Changes
Windfire announces the appointment of Mr. Brian Morrison to its Board of Directors. Brian has
over 9 years of experience as a senior officer and director of both private and public companies.
The appointment to the Board is in replacemen t of Mr. Clive Massey, who has resigned as a
director, the CEO, and the President of the Company. The Company wishes to thank Mr.
Massey for his services to the Company and wish him well in his future endeavors.
Mr. Walt Luke, a current director of the Co mpany, has been appoin ted as interim Chief
Executive Officer of the Company, in replacement of Mr. Clive Massey.
Restructuring
Windfire also announces that its Board of Dire ctors is proposing to consolidate the Company’s
issued and outstanding common shares on the basis of one (1) new common share for every five
(5) old common shares outstanding. The Board of Directors believes that the consolidation will
increase the Company’s flexibility and competitiv eness in the market place and will make the
Company’s securities more attractive to potential investors. The proposed consolidation would
result in the number of issued and outstand ing common shares of the Company being reduced
from 11,148,036 common shares without par value to approximately 2,229,607 common shares
without par value.
The proposed consolidation is subject to TSX Ve nture Exchange (the “Exchange”) acceptance.
The effective date of the share consolidation will occur immediately after Exchange approval.
Financing
The Company is also proposing to complete a non-brokered private placement of up to
2,727,272 common shares at a price of $0.11 pe r common share for gross proceeds of up to
$300,000 on a post-consolidated basis following the completion of the Company’s proposed
share consolidation. The common shares will be made available by way of a private placement
exemption to accredited investors (as such term is defined in Nation al Instrument 45-106 –
Prospectus and Registration Exemptions ) in Canada and to certain ot her qualified investors as the
Company may agree.
Closing of the private placement is subject to TSX Venture Exchange approval.
To find out more about Windfire, please the Company by phone at (905) 601-5853.
Windfire Capital Corp.
“Walt Luke”
President and CEO
2000 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
NEX: WIF.H
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of
management regarding Windfire’s intention to continue to identify potential transactions. Forward-
looking statements consist of statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to
risks and uncertainties that may cause actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given that any of the events anticipated by
the forward-looking statements will occur or, if they do occur, what benefits Windfire will obtain from
them. These forward-looking statements reflect man agements’ current views and are based on certain
expectations, estimates and assumptions which may prove to be incorrect. A number of risks and
uncertainties could cause actual results to diffe r materially from those e xpressed or implied by the
forward-looking statements, including Windfire’s inab ility to identify transactions having satisfactory
terms or at all. These forward-looking statements are made as of the date of this news release and Windfire
assumes no obligation to update these forward-looking statements, or to update the reasons why actual
results differed from those projected in the forward-looking statements , except in accordance with
applicable securities laws.