TORONTO, Feb. 9 /CNW/ - Geosam Capital Inc. ("Geosam") announces that it has acquired and currently owns 1,610,700 units of Drive Products Income Fund ("Drive Products") representing approximately 23.38% of the total outstanding units of Drive Products. The acquisition of 1,141,700 Drive Products units was made pursuant to the private agreement exemption under applicable securities laws.
The Drive Products units held by Geosam, George Armoyan, the President of Geosam, and members of his immediate family with whom he resides, together total 1,622,600 units, representing approximately 23.55% of the total outstanding units of Drive Products.
The purchase of the Drive Products units by Geosam was made through the facilities of the Toronto Stock Exchange for investment purposes at an average price of $1.47. Geosam may, from time to time, acquire additional securities of Drive Products, dispose of some or all of its existing or additional securities of Drive Products, or continue to hold securities of Drive Products in the normal course of Geosam's investment activities.
The issuance of this news release does not constitute an admission by Geosam that it is acting jointly or in concert with Mr. Armoyan and members of his immediate family with whom he resides with respect to units of Drive Products.
SOURCE Geosam Capital Inc.
For further information: For further information: Garen Mikirditsian, Investment Manager, Geosam Capital Inc., (416) 855-1928, Fax: (416) 640-1834