Halcyon International Limited Announces Acquisition of Shares of RFA Financial Inc.

Executive Summary

• Halcyon International Limited disclosed that, following the completion of the Artis – RFA arrangement transaction, it now holds approximately 11.39 million RFA common shares (24.44% of outstanding) and 100,000 Series I preferred shares (2.35%).
• The acquisition represents a reduction from its pre‑transaction position of ~70 million RFA common shares and a complete exit from any Artis units previously owned.
• Halcyon will file an early warning report under NI 62‑104/62‑103 to disclose the change in beneficial ownership.

Key Details

• Pre‑Transaction Holdings:
• 19,744,717 Artis common units (20.78% of Artis) and 100,000 Series I preferred units (2.35%).

• Approximately 70,000,000 RFA common shares.

• Post‑Transaction Holdings (estimated):

• ~11,392,549 RFA common shares – representing 24.44% of current outstanding common shares after a three‑to‑one share consolidation.

• 100,000 RFA Series I preferred shares – representing 2.35% of current outstanding Series I preferred shares.

• Transaction Context:

• The acquisition is part of the Artis–RFA arrangement where Artis and RFA combined businesses; Artis transferred all its common units, Series E preferred units, and Series I preferred units to RFA.

• Halcyon’s holdings are for investment purposes; future adjustments may occur via market transactions or private agreements.

• Regulatory Filing:

• An early warning report will be filed by Halcyon in accordance with NI 62‑104 (Take‑Over Bids) and NI 62‑103 (Early Warning System).

Notable Quotes

(No executive quotes were provided in the release.)