Seymour Schulich announces estate planning transaction

TORONTO, Aug. 8, 2016 /CNW/ - Seymour Schulich, through Sheriff Capital Corporation Limited, 20 Eglinton Avenue West, Suite 1900, Toronto, Ontario, M4R 1K8, announced today that he has sold, through a secondary offering, 10,000,000 common shares of Birchcliff Energy Ltd. (TSX:BIR) and now owns 35,000,000 shares. Royal Bank of Canada is the underwriter of the sale and Mr. Schulich has committed to no additional sales for at least the next 45 days.

Mr. Schulich's philanthropic endeavors are consuming more time, attention and resources.  This estate planning transaction is part of a plan to substantially increase the growing pool of funds available to invest in Canada's future via constructive philanthropy, primarily in the area of educating the country's brightest students.

SOURCE Seymour Schulich

Seymour Schulich, 416-480-6483