/FOR DISSEMINATION IN CANADA AND OVER CANADIAN NEWS SERVICES ONLY. THE DISSEMINATION OF THIS RELEASE IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICE MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
TORONTO, March 2, 2020 /CNW/ - This news release amends the news release issued on October 4, 2018, which clarifies and amends the class of Postmedia Network Canada Corp. (the "Issuer") shares held by Mr. Leon Cooperman. On October 4, 2018, Mr. Leon Cooperman announced that he acquired 7,218,382 Class C Voting Shares. Pursuant to the Issuer's share provisions, upon acquisition by a non-Canadian, the Class C Voting Shares automatically convert to Class NC Variable Voting Shares. Accordingly this news release is being issued to clarify that Mr. Cooperman acquired Class NC Variable Voting Shares (the "Shares"). The Shares were acquired at a price of US$ 0.7585 per share in the capital of the Issuer. Prior to this acquisition, Mr. Cooperman, together with The Leon and Toby Cooperman Family Foundation owned an aggregate of 5,865,500 Shares of the Issuer, representing approximately 6.26% of the total outstanding Shares in the capital of the Issuer. Post this acquisition, Mr. Cooperman, together with The Leon and Toby Cooperman Family Foundation owned an aggregate of 13,083,882 Shares of the Issuer, representing approximately 13.96% of the total outstanding Shares in the capital of the Issuer. Mr. Cooperman acquired the Shares for investment purposes, and may acquire further Shares or dispose of his holdings of the Shares, as investment conditions warrant. The Issuer is listed on the TSX under the symbol "PNC".
This news release has been disseminated in accordance with the early warning requirements of Canadian provincial securities laws.
SOURCE Leon Cooperman
For further information: please contact Mr. Leon Cooperman at St. Andrew's Country Club, 7118 Melrose Castle Lane, Boca Raton, FL 33496, 561-883-0600, [email protected]. The Issuer's head office is located at Legal Department, 365 Bloor Street East, 12th Floor, Toronto, Ontario M4W 3L4