CALGARY, Nov. 15, 2016 /CNW/ - PointNorth Capital Inc. ("PointNorth") announces today that it has increased its equity interest in Liquor Stores N.A. Ltd. (the "Issuer") to above 10%. Liquor Stores N.A. Ltd.'s (TSX: LIQ) head office is located at 10508 – 82nd Avenue, Suite 300, Edmonton, Alberta.
On November 14, 2016, PointNorth acquired 15,000 common shares (the "Acquired Shares") in the capital of the Issuer, representing approximately 0.05% of the issued and outstanding common shares in the capital of the Issuer ("Issuer Shares").
Immediately before the acquisition of the Acquired Shares, PointNorth owned and controlled, directly or indirectly, 2,752,000 Issuer Shares, representing approximately 9.95% of the issued and outstanding Issuer Shares. Immediately following the acquisition of the Acquired Shares, PointNorth owned and controlled 2,767,000 Issuer Shares, representing approximately 10.01% of the outstanding Issuer Shares. The Acquired Shares were purchased by PointNorth through the facilities of the Toronto Stock Exchange at an average price of approximately $10.28 per Acquired Share for an aggregate purchase price of $154,236.
In addition, on November 14, 2016, PointNorth sold 17,000 Issuer Shares (the "Sold Shares"), representing approximately 0.06% of the issued and outstanding Issuer Shares. Immediately following the sale of the Sold Shares, PointNorth owned and controlled 2,750,000 Issuer Shares, representing approximately 9.95% of the outstanding Issuer Shares. The Sold Shares were sold by PointNorth through the facilities of the Toronto Stock Exchange at an average price per Sold Share of approximately $9.95 for an aggregate sale price of $169,135.
PointNorth Capital (formerly Oxford Park Group) is a private equity investment firm, formed under the laws of Ontario. PointNorth acquired the Acquired Shares for investment purposes and disposed of the Sold Shares at its discretion based on market conditions and other factors it deemed relevant. PointNorth looks forward to discussing operational performance and corporate strategy with the board of directors and management of the Issuer.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires reports to be filed with regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Reports"). Copies of the Early Warning Reports will appear with Issuer's documents on SEDAR at www.sedar.com.
SOURCE PointNorth Capital Inc.
For further information: including provision of copies of the Early Warning Reports upon request: Alex Shved, [email protected], (647) 313-3230, PointNorth Capital Inc., 161 Bay Street, Suite 2300, Toronto, ON M5J 2S1.