TORONTO, June 13, 2019 /CNW/ - Kernwood Limited ("Kernwood") is issuing this press release to report on its acquisitions of common shares ("Exco Shares") in the capital of Exco Technologies Limited ("Exco").
As at April 30, 2007 Kernwood held 4,143,900 Exco Shares, which then represented approximately 10.008% of the issued and outstanding Exco Shares. From such date Kernwood has acquired a net aggregate of 1,256,100 Exco Shares with the result that Kernwood owns 5,400,000 Exco Shares, which represents approximately 13.0317% of the issued and outstanding Exco Shares. The Exco Shares were purchased at an average cost of $7.7683 per share in normal course transactions on the Toronto Stock Exchange.
An officer, director and shareholder of Kernwood also holds deferred share units to acquire up to 25,535 Exco Shares.
Kernwood is a private holding company that invests in securities of private and public companies.
The acquisitions of the Exco Shares by Kernwood were undertaken for investment purposes. Kernwood does not have any current plans or future intentions to buy or sell further Exco Shares, to solicit proxies or to otherwise participate in any significant transaction involving Exco. Kernwood intends to review its investment on a continuing basis. Depending on various factors, Kernwood may in the future purchase or sell securities or engage in other activities relating to Exco.
Kernwood's head office is located at 79 Wellington St. W., TD South Tower, Suite 605, P.O. Box 346, TD Centre, Toronto, Ontario M5K 1K7.
Kernwood will be filing an Early Warning Report under Exco's profile on SEDAR and copies of the report may be obtained at www.SEDAR.com or from Kernwood by contacting Edward Kernaghan at (416) 502-2074.
SOURCE Kernwood Limited