AirBoss Executive Terminates Automatic Securities Disposition Plan

NEWMARKET, Ontario, Nov. 22, 2019 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (the "Company" or "AirBoss") today announced that Ms. Lisa Swartzman, Vice-Chair of AirBoss, has terminated the automatic securities disposition plan (a??ASDPa??) previously announced in the press release dated June 27, 2019.
During the fourth quarter of 2014, the Company provided a share purchase loan of C$1,000,000 to Ms. Swartzman to purchase common shares. The share purchase loan was due upon the earlier of the disposition date of all or a proportionate part of the pledged securities or November 24, 2019. Ms. Swartzman elected to sell shares under an ASDP in order to repay the loan. The ASDP was structured under applicable Canadian provincial securities legislation, including the guidance under Ontario Securities Commissiona??s Staff Notice 55-107 and the Companya??s insider trading policy. With the necessary transactions under the ASDP completed, Ms. Swartzman and the Company have agreed to terminate the plan. In permitting Ms. Swartzman to enter into the ASDP, AirBoss recognized that insiders may have reasons unrelated to their assessment of the Company or its prospects in deciding to sell common shares.AirBoss of America Corp.AirBoss of America Corp. is a group of complementary businesses using compounding technology and engineering expertise to create value for its customers. With a capacity to process over 450 million turn pounds of rubber annually, AirBoss Rubber Solutions is one of North Americaa??s largest custom rubber compounding companies and a leading supplier of essential calendered and extruded products for a broad range of applications. AirBoss Engineered Products is a world leader in the supply of life saving products for the military and a leading supplier of innovative anti-vibration solutions to the North American automotive market. The Companya??s shares trade on the TSX under the symbol BOS. Visit Chris Bitsakakis, President or Gren Schoch, Chairman and CEO at 905-751-1188.
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