Skip to main content

GRIP Investments Limited and John Carswell Announces Holdings in Canso Select Opportunities Corporation

Written by Customer Service on . Posted in Mergers And Acquisitions.

TORONTO, Sept. 13, 2023 (GLOBE NEWSWIRE) — GRIP Investments Limited (“GRIP Investments”) and John Carswell announced today that GRIP Investments (a corporation majority beneficially owned and controlled by John Carswell) filed an early warning report with respect to Class B Subordinate Voting Shares (“Class B SVS”) of Canso Select Opportunities Corporation (TSX: CSOC) (the “Issuer”).

On September 8, 2023, GRIP Investments purchased 137,131 Class B SVS at a price of $2.50 per Class B SVS for aggregate purchase price of $342,827.50 (the “Acquisition”).

Immediately prior to the Acquisition, GRIP Investments beneficially owned or controlled directly (i) 717,815 Class A Multiple Voting Shares (“Class A MVS”) representing approximately 45.33% of the 1,583,660 issued and outstanding Class A MVS, Class A MVS are convertible to Class B SVS; and (ii) 24,068 Class B SVS representing approximately 0.66% of the 3,634,777 issued and outstanding Class B SVS. Accordingly, assuming conversion of all Class A MVS directly owned by GRIP Investments into Class B SVS, GRIP Investments would have owned directly approximately 17.04% of the Class B SVS of the Issuer.

As a result of the Acquisition, GRIP Investments now has direct ownership and control of (i) 717,815 Class A MVS representing approximately 45.33% of the 1,583,660 issued and outstanding Class A MVS; and (ii) 161,199 Class B SVS representing approximately 4.44% of the 3,634,777 issued and outstanding Class B SVS. Accordingly, assuming conversion of all Class A MVS directly owned by GRIP Investments into Class B SVS, GRIP Investments would own and control approximately 20.20% of the Class B SVS of the Issuer.

The Class B SVS held by GRIP Investments and Mr. Carswell as a result of the Acquisition are being held for investment purposes. GRIP Investments and Mr. Carswell may, depending on market, general economic, industry and other conditions and considerations, and in compliance with applicable securities laws, increase or decrease their respective ownership or control of Class B SVS for investment purposes whether through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

GRIP Investments and Mr. Carswell will file an early warning report (the “Early Warning Report”) with the securities regulators in each of the provinces of Canada with respect to the foregoing matters pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the Early Warning Report with respect to the foregoing will appear on the Issuer’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

Canso Select Opportunities Corporation is located at 100 York Blvd., Suite 550, Richmond Hill, ON, L4B 1J8.

For further information or to obtain a copy of the Early Warning Report filed in connection with this matter, please contact:

GRIP Investments Limited
Attn: John Carswell
Tel: 905-881-8853

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.