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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

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