<SEC-DOCUMENT>0001567619-16-001757.txt : 20160201
<SEC-HEADER>0001567619-16-001757.hdr.sgml : 20160201
<ACCEPTANCE-DATETIME>20160201145058
ACCESSION NUMBER:		0001567619-16-001757
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160201
FILED AS OF DATE:		20160201
DATE AS OF CHANGE:		20160201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFC Industrial Ltd.
		CENTRAL INDEX KEY:			0000016859
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-METALS, MINERALS (NO PETROLEUM) [5050]
		IRS NUMBER:				131818111
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04192
		FILM NUMBER:		161376877

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1620 - 400 BURRARD
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3A6
		BUSINESS PHONE:		604-683-5767

	MAIL ADDRESS:	
		STREET 1:		SUITE 1620 - 400 BURRARD
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3A6

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TERRA NOVA ROYALTY Corp
		DATE OF NAME CHANGE:	20100330

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KHD HUMBOLDT WEDAG INTERNATIONAL LTD.
		DATE OF NAME CHANGE:	20051103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MFC BANCORP LTD
		DATE OF NAME CHANGE:	19970313
</SEC-HEADER>
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<div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-size: 14pt;">U.S. SECURITIES AND EXCHANGE COMMISSION</div>

<div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-size: 12pt;">Washington D.C.&#160; 20549</div>

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<div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-size: 18pt;">FORM 6-K</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the month of February, 2016</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Commission File No.:&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">001-04192</font></div>

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<div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-size: 24pt;">MFC Industrial Ltd.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Suite #1860 &#8209; 400 Burrard Street, Vancouver, British Columbia, Canada&#160; V6C 3A6</div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Address of principal executive office)</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9.35pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note:</font>&#160; Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant&#8217;s &#8220;home country&#8221;), or under the rules of the home country exchange on which the registrant&#8217;s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant&#8217;s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9.35pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">If "Yes" is marked, indicate below the file number assigned to the Registrant in connection with Rule 12g3-2(b): <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-size: 14pt;">NEWS RELEASE</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Corporate</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFC Industrial Ltd.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Rene Randall</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1 (604) 683 8286 ex 2</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">rrandall@bmgmt.com</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Investors</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">DresnerAllenCaron Inc.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Joe Allen</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1 (212) 691 8087</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">jallen@desnerallencaron.com</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MFC INDUSTRIAL COMPLETES ACQUISITION OF WESTERN EUROPEAN BANK AND</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;ANNOUNCES NAME CHANGE TO "MFC BANCORP LTD."</div>
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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.7pt; font-size: 10pt; font-weight: normal;">NEW YORK (February 1, 2016) . . . MFC Industrial Ltd. ("MFC" or the "Company") (NYSE: MIL) announces that it has completed the acquisition of BAWAG Malta Bank Ltd. (the "Bank").&#160; The Company also announces that its board of directors has approved changing the Company's name to "MFC Bancorp Ltd." effective February 16, 2016.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.7pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Bank Acquisition</u></div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">MFC acquired BAWAG Malta Bank Ltd., a Western European bank, from <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">BA</font>WAG P.S.K. <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Bank f&#252;r Arbeit und Wirtschaft und &#214;sterreichische Postsparkasse Aktiengesellschaft for consideration of EUR 90.8 million, approximately equal to the net realizable value of the Bank upon completion.&#160; The Bank will be renamed "MFC Merchant Bank Ltd." to more accurately reflect its future operations.&#160; This acquisition will not have a material impact on MFC&#8217;s liquidity.</font></div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">MFC&#8217;s corporate goal is to become a premier regulated trade finance institution, utilizing its supply chain platform as the foundation to offer banking, trade and structured finance and other complimentary services, and this acquisition is an important step toward that goal.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">As part of the MFC Group, the Bank will not engage in retail banking, commercial banking or universal banking, but instead will provide specialty banking services, focused on structured and trade finance, to MFC&#8217;s customers, suppliers, and group members, among others.&#160; These products will include:</div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Bank guarantees, letters of credit, documentary bank guarantees/stand-by letters of credit, bills of exchange, bills of lading, promissory notes and forwarders&#8217; certificate of receipt facilities;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">With and without recourse factoring;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Discounting of bills of exchange and promissory notes.</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Purchase financing collateralized by the product;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Inventory financing collateralized by inventory;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Structured trade finance, including advisory services, in conjunction with export credit agencies; and</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Merchant banking products and services.</td>
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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">MFC Merchant Bank Ltd.&#8217;s customer deposits will mainly be comprised of small and medium sized corporate clients, who may also be trade and structured finance customers, as well as MFC Group companies and other related entities.&#160; In addition, we will integrate MFC&#8217;s existing long-standing banking relationships with the Bank to support our corporate vision.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">The back office is a significant burden to a bank because it is the major driver of operating expenditures.&#160; However, in order to maintain a variable cost structure, the Bank will outsource major back office services as well as internal functions such as technology, internal audit and payment services to third parties.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Name Change</u></div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">The Company also announces that, in order to better reflect its focus on trade and structured finance, merchant banking and supply chain activities, its board of directors has approved the change of the Company's name back to "MFC Bancorp Ltd.", which will become effective on February 16, 2016.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">The Company's common shares will commence trading on the New York Stock Exchange under the new symbol "MFCB" as of the open of trading on February 16, 2016.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">Upon completion of the name change, the Company's new website address will be: www.mfcbancorpltd.com.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">Gerardo Cortina, President and Chief Executive Officer of MFC, commented: "This acquisition is an important step toward executing our long-term strategy to leverage our trade finance and supply chain platform by offering additional complementary trade and structured finance products. The addition of an 'in-house' bank to our group enables us to provide our business partners regulated services and solutions which we believe will enhance our margin and revenue profile.&#8221;</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">He concluded, &#8220;We are excited to welcome our new colleagues at the Bank to our group and look forward to working with them to enhance value for shareholders.&#8221;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>About MFC</u></div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">MFC is a finance and supply chain company, which facilitates the working capital and other requirements of our customers and suppliers.&#160; Our business activities involve customized structured financial solutions and are supported by captive sources and products secured by third parties.&#160; We do business in multiple geographies and specialize in a wide range of industrial products such as metals, minerals, electricity/power, steel products, ferro-alloys, chemicals and wood products.</div>

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<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Disclaimer</font> for Forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>Looking Information</div>

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<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">This news release contains statements which are, or may be deemed to be, "forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements" which are prospective in nature, including, without limitation, statements regarding anticipated benefits of the Company's Bank acquisition, future business prospects and any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements. Often, but not always, forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements can be identified by the use of forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking words such as "plans", "expects" or "does not expect", "is expected", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements. Important factors that could cause our actual results, revenues, performance or achievements to differ materially from our expectations include, among other things: (i) periodic fluctuations in financial results as a result of the nature of our business; (ii) economic and market conditions; (iii) competition in our business segments; (iv) our ability to integrate and realize the anticipated benefits of our acquisitions, including the acquisition of the Bank; (v) counterparty risks; and (vi) other factors beyond our control. Such forward-looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, the Company is not under any obligation and the Company expressly disclaims any intention or obligation to update or revise any forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements, whether as a result of new information, future events or otherwise. Additional information about these and other assumptions, risks and uncertainties are set out in our Annual Report on Form 20<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>F filed with the U.S. Securities and Exchange Commission and our Management's Discussion and Analysis for the three and nine months ended September 30, 2015, filed with the Canadian securities regulators.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FORM 51-102F3</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MATERIAL CHANGE REPORT</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Name and Address of Company:</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">MFC INDUSTRIAL LTD.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Suite 1860 &#8211; 400 Burrard Street</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Vancouver, British Columbia</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">V6C 3A6</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Date of Material Change:</td>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The material change described in this report occurred on January 29, 2016.</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">News Release:</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">On February 1, 2016, MFC Industrial Ltd. (the "Company") issued a news release through the facilities of PR Newswire, which was also filed on SEDAR.</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Summary of Material Change:</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">On February 1, 2016, the Company announced that it would be changing its name to "MFC Bancorp Ltd.", effective<font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"> February 16, 2016</font>.</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Full Description of Material Change:</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.1 Full Description of Material Change:</div>

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<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The Company will be changing its name to "MFC Bancorp Ltd.", effective February 16, 2016. Under the new name, the Company's common shares will commence trading on the New York Stock Exchange under the new symbol "MFCB" as of the open of trading on February 16, 2016.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">For further information, please refer to the Company's news release dated February 1, 2016, a copy of which is attached hereto.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.2 Disclosure for Restructuring Transactions:</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Not applicable.</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Reliance on subsection 7.1(2) of National Instrument 51-102:</td>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Not applicable.</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Omitted Information:</td>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Not applicable.</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Executive Officer:</td>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The following executive officer of the Company is knowledgeable about the material change and this report and may be contacted by any of the securities commissions respecting the material change and this report:</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Samuel Morrow</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Chief Financial Officer</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Telephone: (604) 683-8286 (contact through Rene Randall)</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Date of Report:</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">February 1, 2016</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-size: 14pt;">NEWS RELEASE</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Corporate</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFC Industrial Ltd.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Rene Randall</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1 (604) 683 8286 ex 2</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">rrandall@bmgmt.com</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Investors</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">DresnerAllenCaron Inc.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Joe Allen</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1 (212) 691 8087</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">jallen@desnerallencaron.com</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MFC INDUSTRIAL COMPLETES ACQUISITION OF WESTERN EUROPEAN BANK AND</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;ANNOUNCES NAME CHANGE TO "MFC BANCORP LTD."</div>
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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.7pt; font-size: 10pt; font-weight: normal;">NEW YORK (February 1, 2016) . . . MFC Industrial Ltd. ("MFC" or the "Company") (NYSE: MIL) announces that it has completed the acquisition of BAWAG Malta Bank Ltd. (the "Bank").&#160; The Company also announces that its board of directors has approved changing the Company's name to "MFC Bancorp Ltd." effective February 16, 2016.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.7pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Bank Acquisition</u></div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">MFC acquired BAWAG Malta Bank Ltd., a Western European bank, from <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">BA</font>WAG P.S.K. <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Bank f&#252;r Arbeit und Wirtschaft und &#214;sterreichische Postsparkasse Aktiengesellschaft for consideration of EUR 90.8 million, approximately equal to the net realizable value of the Bank upon completion.&#160; The Bank will be renamed "MFC Merchant Bank Ltd." to more accurately reflect its future operations.&#160; This acquisition will not have a material impact on MFC&#8217;s liquidity.</font></div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">MFC&#8217;s corporate goal is to become a premier regulated trade finance institution, utilizing its supply chain platform as the foundation to offer banking, trade and structured finance and other complimentary services, and this acquisition is an important step toward that goal.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">As part of the MFC Group, the Bank will not engage in retail banking, commercial banking or universal banking, but instead will provide specialty banking services, focused on structured and trade finance, to MFC&#8217;s customers, suppliers, and group members, among others.&#160; These products will include:</div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Bank guarantees, letters of credit, documentary bank guarantees/stand-by letters of credit, bills of exchange, bills of lading, promissory notes and forwarders&#8217; certificate of receipt facilities;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">With and without recourse factoring;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Discounting of bills of exchange and promissory notes.</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Purchase financing collateralized by the product;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Inventory financing collateralized by inventory;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Structured trade finance, including advisory services, in conjunction with export credit agencies; and</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Merchant banking products and services.</td>
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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">MFC Merchant Bank Ltd.&#8217;s customer deposits will mainly be comprised of small and medium sized corporate clients, who may also be trade and structured finance customers, as well as MFC Group companies and other related entities.&#160; In addition, we will integrate MFC&#8217;s existing long-standing banking relationships with the Bank to support our corporate vision.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">The back office is a significant burden to a bank because it is the major driver of operating expenditures.&#160; However, in order to maintain a variable cost structure, the Bank will outsource major back office services as well as internal functions such as technology, internal audit and payment services to third parties.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Name Change</u></div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">The Company also announces that, in order to better reflect its focus on trade and structured finance, merchant banking and supply chain activities, its board of directors has approved the change of the Company's name back to "MFC Bancorp Ltd.", which will become effective on February 16, 2016.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">The Company's common shares will commence trading on the New York Stock Exchange under the new symbol "MFCB" as of the open of trading on February 16, 2016.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">Upon completion of the name change, the Company's new website address will be: www.mfcbancorpltd.com.</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">Gerardo Cortina, President and Chief Executive Officer of MFC, commented: "This acquisition is an important step toward executing our long-term strategy to leverage our trade finance and supply chain platform by offering additional complementary trade and structured finance products. The addition of an 'in-house' bank to our group enables us to provide our business partners regulated services and solutions which we believe will enhance our margin and revenue profile.&#8221;</div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">He concluded, &#8220;We are excited to welcome our new colleagues at the Bank to our group and look forward to working with them to enhance value for shareholders.&#8221;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>About MFC</u></div>

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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">MFC is a finance and supply chain company, which facilitates the working capital and other requirements of our customers and suppliers.&#160; Our business activities involve customized structured financial solutions and are supported by captive sources and products secured by third parties.&#160; We do business in multiple geographies and specialize in a wide range of industrial products such as metals, minerals, electricity/power, steel products, ferro-alloys, chemicals and wood products.</div>

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<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Disclaimer</font> for Forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>Looking Information</div>

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<div style="text-align: justify; font-style: italic; font-family: 'Times New Roman', Times, serif; margin-left: 13.5pt; font-size: 10pt; font-weight: normal;">This news release contains statements which are, or may be deemed to be, "forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements" which are prospective in nature, including, without limitation, statements regarding anticipated benefits of the Company's Bank acquisition, future business prospects and any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements. Often, but not always, forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements can be identified by the use of forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking words such as "plans", "expects" or "does not expect", "is expected", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements. Important factors that could cause our actual results, revenues, performance or achievements to differ materially from our expectations include, among other things: (i) periodic fluctuations in financial results as a result of the nature of our business; (ii) economic and market conditions; (iii) competition in our business segments; (iv) our ability to integrate and realize the anticipated benefits of our acquisitions, including the acquisition of the Bank; (v) counterparty risks; and (vi) other factors beyond our control. Such forward-looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, the Company is not under any obligation and the Company expressly disclaims any intention or obligation to update or revise any forward<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>looking statements, whether as a result of new information, future events or otherwise. Additional information about these and other assumptions, risks and uncertainties are set out in our Annual Report on Form 20<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</font>F filed with the U.S. Securities and Exchange Commission and our Management's Discussion and Analysis for the three and nine months ended September 30, 2015, filed with the Canadian securities regulators.</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of the <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Securities Exchange Act of 1934</font>, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MFC INDUSTRIAL LTD.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">By:</div>
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<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">/s/ Samuel Morrow</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Samuel Morrow</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Chief Financial Officer</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Date:</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">February 1, 2016</div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
