Zedcor holder Swanberg acquires 1.1 million shares
MR. DEAN SWANBERG ACQUIRES ADDITIONAL SECURITIES OF ZEDCOR INC.
Between April 30, 2020, and Feb. 1, 2022, pursuant to a shares for debt agreement, as further described herein, Dean Swanberg, through D.S.S. Holdings Inc., a private Alberta corporation controlled by Mr. Swanberg, acquired a total of 1,101,740 common shares of Zedcor Inc.
In April, 2017, as previously disclosed by each of the issuer and Mr. Swanberg, the issuer and Mr. Swanberg entered into a shares for debt agreement. Pursuant to the shares for debt agreement, Mr. Swanberg agreed to subscribe for and purchase such number of common shares, on a monthly basis, that would result in setting off and exchanging the value of a guarantee fee payable by the issuer to Mr. Swanberg in relation to the issuer's lending arrangements. Under the terms of the shares for debt agreement, the purchases of common shares were completed at a price per share equal to the five-day volume weighted average trading price of the common shares on the TSX Venture Exchange for the last five trading days of each calendar month immediately preceding such date.
As previously disclosed, Mr. Swanberg beneficially owned or exercised control over a total of 14,595,805 common shares, representing 26.63 per cent of the outstanding common shares of the issuer as at March 4, 2020.
Mr. Swanberg acquired 468,813 common shares personally on the open market between Feb. 26, 2021, and June 16, 2021, at market prices.
Mr. Swanberg, through D.S.S., acquired 112,595 common shares on the open market between July 14, 2021, and Dec. 31, 2021, at market prices.
Mr. Swanberg acquired personally 75,000 common shares on Aug. 20 2021, and 25,000 common shares on Dec. 8, 2021, as a result of stock option exercises.
Mr. Swanberg, through D.S.S., acquired 121,047 common shares on the open market between Jan. 18, 2022, and Feb. 1, 2022, at market prices
Pursuant to the shares for debt agreement, Mr. Swanberg, through D.S.S., acquired: (i) 189,394 common shares at a price of 5.5 cents per share on Feb. 27, 2020; (ii) acquired 71,924 common shares at a price of 14.48 cents per share on April 30, 2020; (iii) acquired 73,050 common shares at a price of 14.26 cents per share on May 29, 2020; (iv) acquired 77,147 common shares at a price of 13.50 cents per share on June 30, 2020; (v) acquired 64,107 common shares at a price of 16.25 cents per share on Aug. 19, 2020; (vi) acquired 64,363 common shares at a price of 16.18 cents per share on Sept. 1, 2020; (vii) acquired 105,922 common shares at a price of 9.83 cents per share on Oct. 1, 2020; (viii) acquired 160,464 common shares at a price of 12.98 cents per share on Dec. 14, 2020; (ix) acquired 173,778 common shares at a price of 17.98 cents per share on Feb. 26, 2021; (x) acquired 97,638 common shares at a price of 32.10 cents per share on June 4, 2021; and (xi) acquired 23,953 common shares at a price of 43.49 cents per share on June 30, 2021, which, in the aggregate, resulted in Mr. Swanberg beneficially owning or exercising control over a total of 14,595,805 common shares, representing 28.30 per cent at Feb. 1, 2022.
On April 7, 2022, Mr. Swanberg converted, through D.S.S., 4.4 million Series 1 preferred shares of the issuer held by D.S.S., and acquired 4.4 million common shares at a conversation price of 70 cents per common share. Additionally on April 7, 2022, in respect of the cumulative dividend payable on the Series 1 preferred shares held by D.S.S. Mr. Swanberg, through D.S.S., acquired 2,883,386 common shares at a deemed price of 50 cents per share, which resulted in Mr. Swanberg beneficially owning or exercising control over a total of 23,783,386 common shares, representing 33.58 per cent at April 7, 2022.
Mr. Swanberg acquired the common shares for investment purposes and may, in the future, increase or decrease their ownership of securities of the issuer, directly or indirectly, from time to time depending upon, among other things, the business and prospects of the issuer and future market conditions.