CDN Maverick shares acquired by Argentum
2024-06-20 12:03 ET - News Release
An anonymous director reports
EARLY WARNING RELEASE
Argentum Capital Ltd., a holding company controlled by Sandy MacDougall, has acquired control and direction over 926,500 common shares of CDN Maverick Capital Corp. through an acquisition on the Canadian Securities Exchange. The shares represent approximately 6.1 per cent of the issued and outstanding common shares of the company and were acquired at a price of 11.5 cents per share.
Prior to the acquisition, Mr. MacDougall had control and direction over an aggregate of 1,570,200 common shares in the capital of the company and 1.55 million share purchase warrants, of which 1,070,200 common shares and 1.05 million warrants were held by Mr. MacDougall personally, and 500,000 common shares and 500,000 warrants were owned by Argentum. The warrants entitling the holder to purchase an equivalent number of common shares, of which 850,000 are exercisable at a price of 16 cents until Oct. 30, 2025, and 700,000 are exercisable at a price of 20 cents until Dec. 23, 2025.
The 1,570,200 common shares controlled by Mr. MacDougall prior to the acquisition represented 10.3 per cent of the total number of issued and outstanding common shares. If all of the warrants controlled by Mr. MacDougall were exercised prior to the acquisition, Mr. MacDougall would have control and direction over an aggregate of 3,120,200 common shares, representing approximately 18.6 per cent of the issued and outstanding common shares on a partially diluted basis. Immediately following the acquisition, Mr. MacDougall has control and direction over an aggregate of 2,496,700 common shares representing approximately 16.4 per cent of the company's issued and outstanding common shares and 1.55 million warrants. If all of the warrants controlled by Mr. MacDougall were exercised immediately following the acquisition, Mr. MacDougall would have control and direction over an aggregate of 4,046,700 common shares, representing approximately 24.2 per cent of the issued and outstanding common shares on a partially diluted basis.
The purchased shares were acquired for investment purposes. Depending on market conditions, Mr. MacDougall, or Argentum, may, from time to time, acquire additional securities, exercise warrants, dispose of some or all of the existing or additional securities or may continue to hold the securities of the company.
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