EX-8.1 3 tv489500_ex8-1.htm EXHIBIT 8.1

 

EXHIBIT 8.1

 

MFC BANCORP LTD.

 

LIST OF SIGNIFICANT SUBSIDIARIES AS AT DECEMBER 31, 2017

 

Subsidiaries  Country of Incorporation 

Proportion

of Voting Interest(1)

 
        
Kasese Cobalt Company Limited  Uganda   75%
MFC (A) Ltd  Marshall Islands   99.72%
MFC (D) Ltd  Marshall Islands   99.72%
M Financial Corp.  Barbados   100%
Merchants Financial Corp  Marshall Islands   99.96%
MFC Merchant Bank Limited  Malta   100%
Sino Medical Technology Co. Ltd  Marshall Islands   99.54%

 

 

 

Note:

 

(1)Our proportional voting interests are identical to our proportional beneficial interests, except for: (i) a non-wholly owned subsidiary in Africa from which we derive a 100% beneficial interest resulting from our shareholder loan; and (ii) MFC (A) Ltd. and MFC (B) Ltd., in each of which we hold a 99.68% proportional beneficial interest.