Robert B. Johnston Acquires Class B Shares of GVIC Communications Corp.
ISLE OF PALMS, SC, Aug. 24, 2017 /CNW/ - Robert B. Johnston ("Johnston") announced today that between August 23, 2017, and August 24, 2017, he acquired ownership of 317,500 Class B shares of GVIC Communications Corp. ("GVIC") representing approximately 7.54% of the issued and outstanding Class B shares of GVIC through the facilities of the Toronto Stock Exchange ("TSX") at a price of CDN $0.255 per share, for total consideration of CDN $80,962.50 (the "Acquisition").
The Acquisition comprises the following transactions: (i) on August 23, 2017, Johnston purchased 40,000 Class B shares representing approximately 0.95% of the issued and outstanding Class B shares of GVIC through the facilities of the TSX at a price of CDN $0.255 per share, for total consideration of CDN $10,200 (the "August 23 Acquisition"); and (ii) on August 24, 2017, Johnston purchased 277,500 Class B shares in a single block purchase from a single vendor representing approximately 6.59% of the issued and outstanding Class B shares of GVIC through the facilities of the TSX at a price of CDN $0.255 per share (a price that, including brokerage fees or commissions, is not greater than 115% of the market price as determined in accordance with applicable securities laws), for total consideration of CDN $70,762.50 (the "August 24 Acquisition").
GVIC's business office is located at 389 West 6th Street, Vancouver, British Columbia, V5Y 1L1 and its registered office is located at Suite 2500 – 700 West Georgia Street, Vancouver, British Columbia, V7Y 1B3.
Prior to the August 23 Acquisition, Johnston owned 797,800 Class B shares of GVIC representing approximately 18.96% of the issued and outstanding Class B shares. After giving effect to the August 23 Acquisition, Johnston owned 837,800 Class B shares of GVIC representing approximately 19.91% of the issued and outstanding Class B shares of GVIC. After giving effect to the August 24 Acquisition, Johnston owns 1,115,300 Class B shares of GVIC representing approximately 26.50% of the issued and outstanding Class B shares of GVIC.
Johnston acquired the Class B shares purchased under the August 24 Acquisition in reliance on the "private agreement exemption" under section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids.
Johnston acquired the GVIC shares for investment purposes. Johnston will continue to review the performance of and prospects for this investment and 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 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 Johnston 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.
SOURCE Robert Johnston
For a copy of such report or further information, you may contact: Robert Johnston, 31-21st Avenue, Isle of Palms, South Carolina 29451, USA, (843) 886-4666
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