HALIFAX, Nov. 22, 2017 /CNW/ - SeaFort Capital Inc. ("SeaFort") subscribed for 6,800,000 common shares (the "Shares") in the capital of Distinct Infrastructure Group ("Distinct"), in connection with a private placement completed by Distinct on November 21, 2017 (the "Private Placement"). The subscription price was $1.35 per share, resulting in a total investment by SeaFort of $9,180,000. Immediately after the Private Placement, SeaFort owned 6,800,000 shares, representing approximately 15.8% of the outstanding shares of Distinct. Concurrently with the Private Placement, Distinct acquired Crown Utilities Ltd. (the "Acquisition"). After giving effect to shares issued by the Distinct in connection with the Acquisition, SeaFort holds approximately 14.8% of the outstanding common shares of Distinct.
The Shares are held by SeaFort for investment purposes. SeaFort may, from time to time, acquire additional shares of Distinct, dispose of some or all of the existing or additional shares of Distinct, or continue to hold the shares of Distinct in the normal course of investment activities.
About Distinct Infrastructure Group
Distinct (TSXV: DUG) is a turnkey solutions firm providing design, engineering, construction and maintenance services to telecommunication firms, utilities and government bodies. Distinct's full service suite of offerings includes underground construction, aerial construction, inventory management, and technical services including fibre to the building and home. The Company's head offices are located in Toronto, Ontario, with additional offices in Edmonton, Alberta.
SeaFort Capital invests in small and medium sized Canadian businesses and partners with experienced managers to build value. Learn more about SeaFort Capital at www.seafortcapital.com.
SOURCE SeaFort Capital Inc.
For further information: Rob Normandeau, President, E-mail: [email protected], Phone: (902) 700-6292