Toronto, Ontario--(Newsfile Corp. - August 17, 2023) - Stephen Meehan (the "Seller") has today filed an early warning report (the "Early Warning Report") advising of his indirect sale of common shares (the "Common Shares") of Lorne Park Capital Partners Inc. ("LPCP").
The Seller today indirectly sold beneficial ownership of 6,133,370 Common Shares (the "Sold Shares") at a price of $1.35 per Common Share. The Sold Shares were acquired by a group led by Robert Sewell, President and CEO of LPCP, and other members of the executive management team of LPCP.
Prior to this sale, the Seller beneficially owned, directly or indirectly, or exercised control or direction over, 12,337,748 Common Shares, and options to purchase 300,000 Common Shares (the "Options"), representing an aggregate of 12,637,748 Common Shares owned, controlled or issuable, or 23.1% of the outstanding Common Shares immediately prior to this sale, on a partially diluted basis, assuming the exercise of the Options.
After giving effect to this sale, the Seller beneficially owned, directly or indirectly, or exercised control or direction over, 6,504,378 Common Shares (including Common Shares underlying the Options), representing 11.9% of the outstanding Common Shares on a partially-diluted basis, assuming exercise of the Options, a decrease of 11.2%.
The Seller may, from time to time, take such actions in respect of its holdings in securities of LPCP as it may deem appropriate in light of the circumstances then existing, including (i) acquiring, exercising, converting, exchanging, selling or otherwise disposing of securities of LPCP or securities exercisable for, or convertible or exchangeable into, securities of LPCP, and (ii) developing plans or intentions or taking actions which relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Item 5 of the Early Warning Report filed on SEDAR.
This news release is being issued as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and National Instrument 62-104 - Take-Over Bids and Issuer Bids and relates to LPCP, whose head office is located at 1295 Cornwall Road, Unit A3, Oakville, Ontario, L6J 7T5, and to the Acquiror. A copy of the Early Warning Report can be obtained at under LPCP's company profile, or by contacting Stephen Meehan at 1295 Cornwall Road, Unit A3, Oakville, Ontario, L6J 7T5, Telephone: (905) 337-2227 Ext. 203.
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