NORTH CHARLESTON, SC, Feb. 27, 2019 /CNW/ - The Article 6 Marital Trust created under the First Amended and Restated Jerry Zucker Revocable Trust dated 4-2-07 (the "Trust") announced today that it has purchased 25,000 common shares of Colabor Group Inc. ("Colabor") (TSX: GCL), a corporation with its head office located at 1620 De Montarville Blvd., Boucherville, Québec, J4B 8P4, through the facilities of the TSX Venture Exchange at a price of Cdn$0.492 per share (the "Purchase").
Immediately prior to the Purchase, the Trust, together with Z-Holdings North ULC, an affiliate of the Trust (together with the Trust, the "Zucker Group") owned 15,337,912 common shares (comprised of 14,752,712 common shares and 585,200 common shares which may be received upon the conversion by the Trust of its $1,463,000 of principal amount of the 6.00% convertible debentures maturing April 30, 2022 (the "Debentures")), or approximately 15.10% of the issued and outstanding common shares of Colabor.
The 25,000 common shares purchased by the Trust represent approximately 0.025% of the issued and outstanding common shares of Colabor.
Following the Purchase, the Zucker Group owns 15,362,912 common shares (comprised of 14,777,712 common shares and 585,200 common shares which may be received upon the conversion of the Debentures it holds). Together this represents approximately 15.10% of the issued and outstanding common shares of Colabor (if the Trust converted its debentures into common shares).
The common shares and Debentures of Colabor held by the Zucker Group were acquired for investment purposes. The Zucker Group may acquire or dispose of additional common shares and/or debentures of Colabor in the future, subject to price and availability.
SOURCE Article 6 Marital Trust
For further information: please contact: Robert Johnston, 4838 Jenkins Avenue, North Charleston, South Carolina, 29405, (843) 744-5174