TORONTO, June 8, 2017 /CNW/ - John Rapski announces that, pursuant to a share purchase agreement dated May 12, 2017, he has disposed ownership of and control over 7,516,200 common shares (the Transferred Shares) of GAR Limited (GAR) to certain purchasers (the Purchasers) for aggregate consideration of C$248,034.60, being approximately $0.033 per Transferred Share.
Prior to the disposition and transfer of the Transferred Shares, Mr. Rapski had direct or indirect ownership of or control over 7,517,200 common shares of GAR, representing 67.12% of the issued and outstanding common shares of GAR (on an undiluted basis).
After giving effect to the disposition and transfer of the Transferred Shares, Mr. Rapski has direct or indirect ownership of or control over 1000 common shares of GAR, representing 0.00009% of the issued and outstanding common shares of GAR (on an undiluted basis).
Mr. Rapski may take actions in the future in respect of his holdings in GAR based on the then existing facts and circumstances, which actions could include, without limitation, acquisitions or dispositions of shares, whether in the open market, by privately negotiated agreement or otherwise, or in connection with a strategic transaction with GAR.
The head office of GAR is located at Box 122, Site 15, 288 Kenogami Lane, Swastika, Ontario, P0K 1T0.
SOURCE GAR Limited
For further information: including a copy of the corresponding report filed with Canadian securities regulators, please contact: John Rapski, Box 122, Site 15, 288 Kenogami Lane Swastika, Ontario POK1T0, Email Address: [email protected], Telephone: 705 642-3376, Fax: 705 642-3376