TORONTO, June 29, 2020 /CNW/ - Robert B. Johnston ("Johnston") announced today that on June 26, 2020, he acquired ownership of 41,500 Class B shares of GVIC Communications Corp. ("GVIC") representing approximately 0.99% of the issued and outstanding Class B shares of GVIC through the facilities of the Toronto Stock Exchange ("TSX") at a price of $0.15 per share, for total consideration of CDN$6,225.00 (the "Acquisition").
GVIC's registered office is located at 389 West 6th Street, Vancouver, British Columbia, V5Y 1L1.
Prior to the Acquisition, Johnston owned 1,164,300 Class B shares representing approximately 27.67% of the Class B shares issued and outstanding. Following the purchase of 41,500 Class B shares in the June 26 Acquisition, Johnston owns 1,205,800 Class B shares representing approximately 28.65% of the Class B shares issued and outstanding.
Johnston acquired the Class B shares purchased under the Acquisition in reliance on the "normal course purchase exemption" under section 4.1 of National Instrument 62-104 – Take-Over Bids and Issuer Bids.
Johnston acquired the GVIC shares for investment purposes. Johnston will continue to review the performance of and prospects for this investment and investment alternatives. As part of the ongoing review of the investment in GVIC shares, Johnston may explore from time to time a variety of alternatives, including the acquisition of additional securities of GVIC or the disposition of securities of GVIC in the open market or in privately negotiated transactions. Johnston may also explore other alternatives with respect to the investment in the shares, including but not limited to an extraordinary corporate transaction involving GVIC, changes in the present board of directors or management of GVIC, or changes in GVIC's business or corporate structure. Although the foregoing reflects activities presently contemplated with respect to GVIC, the foregoing is subject to change at any time, and there can be no assurance that Johnston will take any of the actions referred to above.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a report to be filed under GVIC's profile on SEDAR (www.sedar.com) containing further information respecting the foregoing matters.
SOURCE Robert B. Johnston