Toronto, Ontario--(Newsfile Corp. - November 30, 2024) - Paul Gaynor announces a series of transactions involving his holdings in Ciscom Corp. ("Ciscom" or the "Company").
Upon Ciscom's going public on June 8, 2023, Mr. Gaynor held an aggregate opening balance of 11,056,333 common shares in the capital of Ciscom (each a "Share") and options to purchase Shares, representing, at that time, approximately 21.4% of the then-issued and outstanding Shares, on a partially diluted basis. Mr. Gaynor acquired these Shares pursuant to Ciscom's acquisition of Market Focus Direct Inc., a company previously controlled by Mr. Gaynor, on August 29, 2020. Of the 11,056,333 Shares and options to purchase Shares then controlled by Mr. Gaynor, 9,616,000 Shares were held by Whittaker Inc., a company controlled by Mr. Gaynor.
On June 30, 2023, Mr. Gaynor directly acquired 100 Shares through a public purchase on the Canadian Securities Exchange (the "CSE"). These 100 Shares represented 0.00019% of the then-issued and outstanding Shares on a partially diluted basis. Immediately prior to the acquisition on June 30, 2023, Mr. Gaynor beneficially owned, controlled or directed 11,056,333 Shares and options to purchase Shares, representing 21.3% of the then-issued and outstanding Shares on a partially diluted basis. Immediately following the acquisition, Mr. Gaynor beneficially owned, controlled or directed 11,056,433 Shares and options to purchase Shares, representing at that time approximately 21.3% of the then-issued and outstanding Shares on a partially diluted basis.
As of the date hereof, Mr. Gaynor beneficially owns, controls or directs, a total of 11,616,868 Shares and options to purchase Shares, representing 21.6% of the issued and outstanding Shares on a partially diluted basis. 9,984,575 of these Shares are held by Whittaker Inc., a company controlled by Mr. Gaynor.
Mr. Gaynor has committed to purchasing up to 3,375,000 units (each a "Unit") pursuant to the private placement financing of Ciscom, announced in a press release by Ciscom on November 12, 2024. Each Unit will consist of one Share and one warrant to purchase a Share. Mr. Gaynor may, depending on various factors including, without limitation, market and other conditions, increase or decrease his beneficial ownership, control or direction over Shares or other securities of the Company.
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This news release is issued pursuant to the early warning requirements of applicable securities laws. A copy of the Early Warning Report will appear on Ciscom Corp.'s profile on the SEDAR+ website at www.sedarplus.ca. A copy of the Early Warning Report may also be obtained by contacting Paul Gaynor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232038
