TORONTO, July 28, 2017 /CNW/ - Benbrick Holdings Inc. ("Benbrick") has announced that today it sold 1,000,000 common shares (the "Common Shares") in the capital of Brick Brewing Co. Limited (the "Company") by way of a private agreement, at a price of Cdn.$4.00 per share for aggregate consideration to Benbrick of Cdn.$4,000,000.00.
The 1,000,000 Common Shares sold represent approximately 2.86% of the outstanding Common Shares of the Company. Prior to this transaction, Benbrick beneficially owned or exercised control or direction over 9,964,436 Common Shares representing 28.4% of the issued and outstanding Common Shares. Benbrick now beneficially owns or exercises control or direction over 8,964,436 Common Shares representing 25.6% of the issued and outstanding Common Shares.
Benbrick sold the Common Shares to facilitate corporate and estate planning of two of its indirect shareholders Peter Schwartz and Mark Lee. Mr. Schwartz is the Chairman and a director of the Company. Benbrick continues to hold its Common Shares of the Company for investment purposes. Depending on market conditions and other factors, Benbrick may from time to time acquire additional securities of the Company or dispose of additional securities of the Company in the open market, by private agreement or otherwise.
SOURCE Benbrick Holdings Inc.
For further information: For further information or to obtain a copy of the report to be filed with the Ontario Securities Commission in respect of such transaction, please contact: Paul Laufert, Benbrick Holdings Inc., 150 Caroline Street South, Suite 403, Waterloo, Ontario N2L 0A5, Phone: 519-772-5692