HALIFAX, March 26, 2020 /CNW/ - G2S2 Capital Inc. ("G2S2") announces that it has acquired ownership of, and control over, approximately 2,631,239 common shares of TerraVest Industries Inc. ("TerraVest"), representing approximately 14.04% of TerraVest's outstanding common shares.
Specifically, Clarke Inc. ("Clarke") declared a dividend-in-kind of all of the 5,386,440 Common Shares that it owned (the "Dividend"), which was paid to its shareholders on March 25, 2020. G2S2 owns approximately 49% of the outstanding common shares of Clarke and as a result of the Dividend, G2S2 acquired approximately 2,631,239 Common Shares of TerraVest. As a result of the Dividend, Clarke, which is presumed under applicable securities laws to be a joint actor of G2S2, no longer owns any Common Shares. Clarke Inc. Master Trust ("Clarke MT"), which is also presumed under applicable securities laws to be a joint actor of G2S2, owns approximately 494,302 Common Shares.
Prior to the Dividend, G2S2, together with Clarke Inc. and Clarke MT ("Presumed Joint Actors"), owned and exercised control over an aggregate of approximately 5,880,742 common shares of TerraVest, representing approximately 31.37% of the outstanding common shares. Immediately after the Acquisition, G2S2, together with Presumed Joint Actors, owns and exercises control over an aggregate of approximately 3,125,541 common shares of TerraVest, representing approximately 16.67% of the outstanding common shares.
The shares were acquired by G2S2 as a result of the dividend-in-kind. G2S2 may, from time to time, acquire additional common shares or dispose of some or all of their current or additional common shares in the normal course of their investment activities. G2S2 expressly disclaims ownership of, and control or direction over, any Common Shares owned by Clarke or Clarke MT.
G2S2 has filed an early warning report relating to this press release on the System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under TerraVest's issuer profile.
G2S2 Capital Inc. is a privately held investment holding company focused on creating value across a variety of businesses with a long term horizon. G2S2 is incorporated under the laws of Canada. G2S2 is controlled by George & Simé Armoyan.
SOURCE G2S2 Capital Inc.
For further information: or to obtain a copy of the early warning report, please contact Rob Jeffery, Executive Vice President & Chief Financial Officer of G2S2 at 902-423-4000.