HAMILTON, ON, Nov. 6, 2018 /CNW/ - John Levy Family Holdings Ltd. ("JLFHL"), a corporation controlled by John Levy ("Levy"), the Chairman and Chief Executive Officer of theScore, Inc. ("theScore"), reported today that it acquired 13,043,481 Class A Subordinate Voting Shares ("Class A Shares") of theScore from treasury in connection with a private placement offering, representing approximately 3.9% of the issued and outstanding Class A Shares upon the closing of the Offering, at a price of $0.23 per Class A Share, representing aggregate proceeds to theScore of $3,000,000.63.
As of November 5, 2018, the date immediately prior to the closing of the offering, JLFHL beneficially owned, controlled and directed 55,707,099 Class A Shares in the capital of theScore, and following the offering, JLFHL owned, controlled and directed 68,750,580 Class A Shares in the capital of theScore. JLFHL also owns 5,566 Special Voting Shares in the capital of theScore.
Levy, together with entities he controls, owned approximately 20.9% of the issued and outstanding Class A Shares and 100% of the Special Voting Shares in the capital of theScore prior to the closing of the offering and following the closing of the offering owns approximately 22.5% of the Class A Shares in the capital of theScore and 100% of the Special Voting Shares in the capital of theScore.
The Class A Shares were acquired for investment purposes. JLFHL has no current intention of acquiring ownership of or control or direction over any additional shares of theScore but reserves the right to acquire additional shares of theScore, to sell all or any portion of its holdings of such shares or to enter into derivative or other transactions with respect to the shares of theScore owned by it.
This press release is being issued pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report to be filed by JLFHL in connection with the transactions described herein will be available on theScore's SEDAR profile at www.sedar.com, and can also be obtained by contacting James Bigg, Senior Manager, Communications of theScore at the telephone number or e-mail listed below.
theScore is located at 500 King Street West, Fourth Floor, Toronto, Ontario M5V 1L9. The address of JLFHL is 1603 Main Street West, Unit 1, Hamilton, Ontario, L8S 1E6.
SOURCE John Levy Family Holdings Ltd.
For further information: James Bigg, (416) 479-8812 ext. 2366, [email protected]