CALGARY, April, 13, 2018 /CNW/ - Harold Kunik, President of Mosaic Capital Corporation ("Mosaic") (TSX-V Symbols: M and M.DB), has filed an early warning report in accordance with National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues, in connection with various acquisitions of securities of Mosaic (the "Securities").
Mr. Kunik acquired the Securities pursuant to: (i) Mosaic's Securities Based Compensation Plan; and (ii) the conversion of options issued pursuant to a plan of arrangement under the Business Corporations Act (Alberta) among Mosaic Diversified Income Fund, First West Properties Ltd., its securityholders, and Mosaic.
Mr. Kunik is one of the trustees of C-Growth Trust, an affiliate of Alph Investment Corporation ("Alph"), and Mr. Kunik may be considered a joint actor in respect of C-Growth Trust. C-Growth Trust is deemed to be a joint actor in respect of Alph.
Alph filed an early warning report on June 27, 2014 disclosing its acquisition of 1,550,107 Common Shares, which, together with the Common Shares then held by Mr. Kunik, represented approximately 20.6% of the issued and outstanding Common Shares. Since that early warning report filed by Alph, Mr. Kunik has acquired 119,783 Common Shares and 9,434 options. Despite Mr. Kunik acquiring the Securities, due to Mosaic issuing additional Common Shares since the early warning report filed by Alph, the aggregate percentage of the issued and outstanding Common Shares held by Mr. Kunik and Alph has decreased by approximately 3.5%, from 20.6% to 17.1%.
Mr. Kunik acquired the Securities as follows: 41,580 Common Shares at a price of $3.25 per Common Share through the exercise of options on November 11, 2015; 12,922 Common Shares through the conversion of restricted share units ("RSUs") on March 1, 2016; 15,152 Common Shares through the conversion of RSUs on March 8, 2016; 7,777 Common Shares through the conversion of RSUs on May 9, 2016; 7,363 Common Share through the conversion of RSUs on April 6, 2017; 13,986 Common Shares at an exercise price of $4.23 per Common Share through the exercise of options on April 6, 2017; 13,986 Common Shares at an exercise price of $4.23 per Common Share through the exercise of options on April 2, 2018; 7,017 Common Shares through the conversion of RSUs on April 2, 2018; and 28,302 options issued on April 12, 2017 pursuant to the Issuer's Securities Based Compensation Plan, of which 9,434 have vested or will vest within 60 days.
Alph has not changed its securityholdings in Mosaic since its last early warning report, resulting in the percentage of the issued and outstanding Common Shares held by Alph to decrease by approximately 4.36%, from 18.97% to 14.61%.
The Securities were acquired by the Acquiror for investment purposes.
SOURCE Harold Kunik
For further information: For a copy of the early warning report, please contact: Harold Kunik, 400, 2424 4th Street SW, Tel: (403) 218-6500