TORONTO, June 14, 2013 /CNW/ - Edgefront Realty Corp. ("Edgefront")
today announced that Kelly C. Hanczyk of Toronto, its President and
Chief Executive Officer and a director, has privately acquired
3,300,000 common shares (or approximately 6.0% of the outstanding
Edgefront shares) (including 270,000 escrowed common shares and 30,000
common shares acquired from a seed capital investor at such investor's
initial subscription cost), and as a result, now owns 6,800,000 common
shares (or approximately 12.4% of the outstanding Edgefront shares).
In a separate transaction, Ted Manziaris of Toronto, an Edgefront
director, has privately acquired 300,000 common shares (or
approximately 0.5% of the outstanding Edgefront shares), consisting of
270,000 escrowed common shares and 30,000 common shares, from another
seed capital investor at such investor's initial subscription cost, and
as a result, now owns 7,800,000 common shares (or approximately 14.2%
of the outstanding Edgefront shares). As a result of these share
transfers, the number of seed capital investors who owns escrowed
Edgefront shares have been reduced from nine persons to seven persons
and such investors now consist of Kelly C. Hanczyk, Robert P. Chiasson,
Mario Forgione, Ted Manziaris, Peter M. Vukanovich, Leslie Johnson and
The common shares were acquired for investment purposes and each of
Messrs. Hanczyk and Manziaris (who are not acting jointly or in concert
with each other) may from time to time increase or decrease his
holdings of common shares of Edgefront, depending on market and other
conditions. Copies of the early warning reports being filed by
Messrs. Hanczyk and Manziaris with the applicable securities regulators
will be available on SEDAR (www.sedar.com).
Edgefront is a growth oriented, diversified real estate company focused
on increasing shareholder value through the acquisition, ownership and
management of commercial real estate assets initially located in
secondary markets. It is the intention of Edgefront to expand its
business of purchasing, owning and operating real estate assets and to
raise funds in the marketplace in order to convert Edgefront into a
real estate investment trust having an external asset management
structure, subject to receipt of all necessary approvals, including
that of the TSXV.
SOURCE: Edgefront Realty Corp.
For further information:
please contact Kelly C. Hanczyk at (416) 906-2379.