WINNIPEG, MB, Jan. 22, 2024 /CNW/ - Farmers Edge Inc. ("Farmers Edge" or the "Company") (TSX: FDGE) today announced that it has entered into an arrangement agreement (the "Arrangement Agreement") with 15635594 Canada Inc. (the "Purchaser"), a newly-formed subsidiary of the Company's majority shareholder, Fairfax Financial Holdings Limited ("FFHL") and FFHL, as guarantor, in respect of a transaction (the "Transaction") whereby the Purchaser will acquire all of the common shares (the "CommonShares") in the capital of the Company, other than those Common Shares owned by FFHL and its affiliates (collectively, "Fairfax") and the Company's Chief Executive Officer (as described below), at a purchase price of C$0.35 per Common Share (the "Purchase Price"), payable in cash. Today's announcement is the culmination of the negotiations that took place following the receipt by the board of directors of Farmers Edge (the "Board") on November 16, 2023 of an initial proposal from Fairfax at C$0.25 per Common Share (the "Original Proposal") and the January 8, 2024 announcement of the signing of a letter of intent by the Company and Fairfax in respect of the Transaction. The signing of the Arrangement Agreement followed the unanimous recommendation of the special committee (the "Special Committee") of independent directors of the Board.