Gibraltar & Company, Inc., Gibraltar Opportunity, Inc., Frédérick Mannella and Kei Izawa Announce Ownership in LXRandCo, Inc.

TORONTO and MONTREAL, June 13, 2017 /CNW/ - Gibraltar & Company, Inc. ("Gibraltar & Company"), Gibraltar Opportunity, Inc., Frédérick Mannella and Kei Izawa today announce their ownership in LXRandCo, Inc. (formerly Gibraltar Growth Corporation ("Gibraltar Growth")) (the "Corporation"), following the completion of the qualifying acquisition of the Corporation on June 9, 2017, pursuant to which the Corporation acquired all the issued and outstanding shares of LXR Produits de Luxe Internationale Inc. (the "Qualifying Acquisition).

Pursuant to the Qualifying Acquisition, Gibraltar & Company acquired 596,882 class B shares (each, a "Class B Share") of the Corporation and Gibraltar Ventures Fund One Limited Partnership ("Gibraltar Ventures"), a venture capital fund under the management of Gibraltar & Company, acquired 813,953 Class B Shares. Gibraltar Opportunity, the former sponsor of Gibraltar Growth and a wholly-owned subsidiary of Gibraltar & Company, holds 2,075,144 Class B Shares, comprised of Class B Shares acquired in connection with Gibraltar Growth's initial public offering and 113,850 Class B Shares which were acquired at a subscription price of $10.00 per share in Gibraltar Growth's previously disclosed private placement which closed concurrently with the Qualifying Acquisition (the "Private Placement"). In addition, Gibraltar Opportunity owns 280,398 share purchase warrants of LXR (each, a "Warrant"), which are exercisable for one Class B Share at a price of $11.50 until June 9, 2022. Each of Gibraltar Opportunity, as a wholly-owned subsidiary of Gibraltar & Company, and Gibraltar Ventures, as a venture capital fund under the management of Gibraltar & Company, may be considered to be affiliates of Gibraltar & Company.

Prior to the completion of the Qualifying Acquisition and Private Placement, neither Gibraltar & Company nor Gibraltar Ventures owned any securities of Gibraltar Growth, and Gibraltar Opportunity owned 2,131,749 Class B Shares, or 68.2% of the then issued and outstanding Class B Shares, and 280,398 Warrants. Following completion of the Qualifying Acquisition and Private Placement, Gibraltar & Company owns 596,882 Class B Shares, or 4.58% of the issued and outstanding Class B Shares, Gibraltar Ventures owns 813,953 Class B Shares, or 6.24% of the issued and outstanding Class B Shares, and Gibraltar Opportunity owns 2,075,144 Class B Shares, or 15.91% of the issued and outstanding Class B Shares, and the 280,398 Warrants. In the aggregate, such shares represent 26.72% of the Class B Shares. Gibraltar & Company and Gibraltar Ventures acquired the Class B Shares pursuant to the Qualifying Acquisition and Gibraltar Opportunity acquired the Class B Shares for investment purposes. Each such entity, depending on market conditions and other factors, may from time to time acquire additional securities of the Corporation, or dispose of securities of the Corporation in the open market, or by private agreement or otherwise.

In addition, Mr. Mannella acquired 4,028,207 Class B Shares, or 30.88% of the issued and outstanding Class B Shares, and Ms. Izawa acquired 458,408 pursuant to the Qualifying Acquisition, or 3.51% of the issued and outstanding Class B Shares. Pursuant to the terms of a voting support agreement dated June 9, 2017 among Mr. Mannella, Ms. Izawa, Gibraltar & Company and Gibraltar Opportunity, in addition to the Class B Shares noted above, the Mr. Mannella and Ms. Izawa exclusively possess and are entitled, in their sole discretion, to exercise all the rights of voting appertaining to 2,672,026 Class B Shares owned by Gibraltar & Company and Gibraltar Opportunity and all rights in connection with the initiation, taking part in and consenting to any action as shareholders of the Corporation for a period of 12 months from the closing of the Qualifying Acquisition. In the aggregate, Mr. Mannella and Ms. Izawa own 34.39% of the Class B Shares and have control or direction over 54.88% of the Class B Shares. Mr. Mannella and Ms. Izawa acquired the Class B Shares pursuant to the Qualifying Acquisition and, depending on market conditions and other factors, may from time to time acquire additional securities of the Corporation, or dispose of securities of the Corporation in the open market, or by private agreement or otherwise.

All of the calculations of percentages of issued and outstanding Class B Shares in this press release are calculated on a non-diluted basis.

Cautionary Statements

Certain information contained in this news release may be forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, potential future acquisitions or dispositions of securities of the Corporation by Gibraltar & Company, Gibraltar Ventures, Gibraltar Opportunity, Mr. Mannella and Ms. Izawa. Numerous risks and uncertainties could cause the actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements.

SOURCE Shareholders of LXRandCo, Inc.

For further information: The Corporation, 130 Adelaide Street West, 17th Floor, Toronto, Ontario, M5H 3P5; Gibraltar & Company, Gibraltar Ventures, Gibraltar Opportunity, 130 Adelaide Street West, 17th Floor, Toronto, Ontario, M5H 3P5; Mr. Mannella and Ms. Izawa, 40 Rue Jean-Talon Ouest, Montréal, Québec, H2R2W5

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