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 Jim Dedes.
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.