TORONTO, July 13, 2018 /CNW/ - Since filing an alternative monthly report in respect of Avante Logixx Inc. ("Issuer") as at May 31, 2018, when Polar Asset Management Partners Inc. ("Polar"), on behalf of client accounts over which it has discretionary trading authority, exercised control or direction over 11,482,000 common shares of the Issuer (the "Shares") (representing approximately 14.06% of the outstanding Shares), there has been a net increase of 4,616,000 Shares over which Polar, has control or direction of, representing a net increase of 1.51% of all outstanding Shares. As at July 13, 2018, Polar, on behalf of client accounts over which it has discretionary trading authority, exercised control or direction over an aggregate of 16,098,000 Shares, representing approximately 15.57% of the outstanding Shares.
The net increase resulted from an acquisition by Polar on June 12, 2018, on behalf of client accounts over which it has discretionary trading authority, of 5,000,000 Shares. Since June 1, 2018, Polar, on behalf of clients over which it has discretion trading authority, also disposed of an aggregate of 384,000 Shares. Polar paid a price of $0.40 per Share, for a total consideration of $2,000,000, for the Shares acquired on June 12, 2018 and received an average price of $0.45 per Share, for total consideration of $173,415.03, for the Shares disposed of during this period.
The Shares were disposed of on the facilities of the TSX Venture Exchange, in the ordinary course of business, for investment purposes only. The Shares were acquired by Polar pursuant to the Issuer's prospectus offering, in the ordinary course of business, for investment purposes only and not for the purpose of exercising control or direction over the Issuer. Polar may from time to time, on its own behalf or on behalf of client accounts, acquire additional securities of the Issuer, dispose of some or all of the currently held or additional securities of the Issuer or may continue to hold the securities of the Issuer.
Address of the Issuer
1959 Leslie Street
About Polar Asset Management Partners Inc.
Established in 1991, Polar Asset Management Partners Inc. is registered as an Investment Fund Manager with the Ontario Securities Commission and is a member of the Investment Industry Regulatory Organization of Canada. Polar acts as investment manager of certain investment funds and investment advisor to other managed accounts and manages and/or advises over $4.3 billion of client funds.
Neither the issuance of this news release nor the filing by Polar of an "early warning" report required to be filed in accordance with applicable Canadian securities laws is an admission that any individual or entity named or referred to in this news release or in an "early warning" report of Polar owns or controls any described securities or is a joint actor with another individual or entity named or referred to in this news release.
The address of Polar and other contact information is set forth below. For further information, including to obtain a copy, once filed, of the "early warning" report required to be filed in accordance with applicable Canadian securities laws, contact Polar at the address specified below:
Polar Asset Management Partners Inc.
401 Bay Street
Suite 1900, P.O. Box 19
SOURCE Polar Asset Management Partners Inc.
For further information: Greg Lemaich, General Counsel and Chief Compliance Officer, (416) 369-8087