ISLE OF PALMS, SC, Aug. 10, 2017 /CNW/ - On August 10, 2017, Robert B. Johnston ("Johnston") acquired ownership of 180,000 Class B shares of GVIC Communications Corp. ("GVIC") through the facilities of the Toronto Stock Exchange at a volume-weighted average price of approximately CDN $0.22 per share, for total consideration of CDN $39,800 (the "Acquisition").
GVIC's business office is located at 389 West 6th Street, Vancouver, British Coumbia, V5Y 1L1 and its registered office is located at Suite 2500 – 700 West Georgia Street, Vancouver, British Columbia, V7Y 1B3.
Prior to the Acquisition, Johnston owned 497,800 Class B shares of GVIC representing approximately 11.8% of the issued and outstanding Class B shares. After giving effect to the Acquisition, Johnston owns 677,800 Class B shares of GVIC representing approximately 16.11% of the issued and outstanding Class B shares of GVIC.
Johnston acquired the GVIC shares for investment purposes. Johnston will continue to review the performance of and prospects for this investment and its investment alternatives. As part of the ongoing review of the investment in GVIC shares, Johnston may explore from time to time a variety of alternatives, including the acquisition of additional securities of GVIC or the disposition of securities of GVIC in the open market or in privately negotiated transactions. Johnston may also explore other alternatives with respect to the investment in the shares, including but not limited to an extraordinary corporate transaction involving GVIC, changes in the present board of directors or management of GVIC, or changes in the GVIC's business or corporate structure. Although the foregoing reflects activities presently contemplated with respect to GVIC, the foregoing is subject to change at any time, and there can be no assurance that it will take any of the actions referred to above.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a report to be filed under GVIC's profile on SEDAR (www.sedar.com) containing further information respecting the foregoing matters. For a copy of such report or further information, you may contact:
SOURCE Robert Johnston
For further information: Robert Johnston, 31-21st Avenue Isle of Palms, South Carolina, 29451, USA, (843) 886-4666