Upon completion of the acquisition of 588,325 common shares ("Shares") in the capital of the Issuer on February 20, 2011 (the "First Reportable Event"), the Offeror acquired ownership and control of 762,225 Shares of the Issuer, which represented approximately 10.1% of the then issued and outstanding Shares of the Issuer. Immediately following the completion of the First Reportable Event on February 20, 2011, the Offeror alone had ownership and control over 762,225 Shares, representing approximately 10.1% of the then issued and outstanding Shares of the Issuer.
Subsequent to the First Reportable Event, upon completion of the acquisition of 100,000 Shares in the capital of the Issuer on February 20, 2013 (the "Second Reportable Event"), the Offeror acquired ownership and control of an additional 179,500 Shares of the Issuer, which represented approximately 2.4% of the then issued and outstanding Shares of the Issuer. Immediately following the completion of the Second Reportable Event on February 20, 2013, the Offeror alone had ownership and control over 941,725 Shares, representing approximately 12.5% of the then issued and outstanding Shares of the Issuer.
Subsequent to the Second Reportable Event, upon completion of the acquisition of 55,324 Shares in the capital of the Issuer on September 3, 2014 (the "Third Reportable Event"), the Offeror acquired ownership and control of an additional 190,324 Shares of the Issuer, which represented approximately 2.5% of the then issued and outstanding Shares of the Issuer. Immediately following the completion of the Third Reportable Event on September 3, 2014, the Offeror alone had ownership and control over 1,132,049 Shares, representing approximately 15.0% of the then issued and outstanding Shares of the Issuer.
Subsequent to the Third Reportable Event, upon completion of the acquisition of 150,000 Shares in the capital of the Issuer on July 3, 2015 (the "Fourth Reportable Event"), the Offeror acquired ownership and control of an additional 192,500 Shares of the Issuer, which represented approximately 2.6% of the then issued and outstanding Shares of the Issuer. Immediately following the completion of the Fourth Reportable Event on July 3, 2015, the Offeror alone had ownership and control over 1,324,549 Shares, representing approximately 17.6% of the then issued and outstanding Shares of the Issuer.
Each of the First Reportable Event, Second Reportable Event, Third Reportable Event and Fourth Reportable Event was a transfer from Denis Donnelly to his wife, the Offeror, and was completed for no consideration.
The Offeror acquired the Shares for investment and tax planning purposes. The Offeror will review her holdings from time to time and may increase or decrease her holdings as future circumstances dictate.
Furthermore, the Offeror and the Issuer would like to clarify a press release issued on August 25, 2015 by the Issuer. In that press release, the Offeror was referred to as Elaine Shaw, which is her maiden name. However, in disclosure of the Issuer going forward, the Offeror will be referred to as Elaine Donnelly, which is her married and legal name.
For more information, or for a copy of the report filed under applicable securities laws by the Offeror in connection with the transactions referred to in this press release, please contact Elaine Donnelly at 905-884-2323.
The address for the Offeror is: Elaine Donnelly c/o BFS Entertainment & Multimedia Limited 360 Newkirk Road Richmond Hill, Ontario L4C 3G7
Contacts: Elaine Donnelly 905-884-2323