KayMaur Holdings Ltd. acquires Class “A” Common Shares of Dominion Lending Centres Inc.
VANCOUVER, British Columbia, May 20, 2022 (GLOBE NEWSWIRE) — KayMaur Holdings Ltd. (“KayMaur”) reports that it has filed an updated early warning report under applicable Canadian securities laws in respect of Dominion Lending Centres Inc. (“DLC”).
On May 20, 2022, KayMaur acquired 1,039,284 class “A” common shares (“Common Shares”) of DLC through a private agreement transaction at a price of $3.07 per share for total consideration of $3,190,601.88 (the “Purchase Transaction”).
Immediately prior to the Purchase Transaction, KayMaur held 17,022,831 Common Shares of DLC, representing approximately 35.09%% of DLC’s issued and outstanding Common Shares (on a non-diluted basis). Immediately following the Purchase Transaction, KayMaur owns 18,062,115 Common Shares, representing approximately 37.24% of DLC’s issued and outstanding Common Shares (on a non-diluted basis).
KayMaur is incorporated under the laws of British Columbia and its principal business is an investment company. Gary Mauris and Chris Kayat control KayMaur.
KayMaur acquired the Common Shares for investment purposes. KayMaur may from time to time decide to acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold securities of the Issuer or develop plans or intentions relating to the foregoing, in each case, depending on market and economic conditions, the business and prospects of DLC and other relevant factors.
KayMaur also owns 25,432,674 series 1, class B non-voting preferred shares (the “Preferred Shares”), representing 95% of the issued and outstanding Preferred Shares. The holders of the Preferred Shares have entered into an Investors Rights Agreement with DLC that provides the holders of Preferred Shares with certain governance rights. Details regarding the Investors Rights Agreement are set out on DLC’s applicable annual disclosure and a copy of the agreement is available for review on SEDAR.
KayMaur relied on the “Private Agreement Exemption” exemption set out in Section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids.
DLC’s head office is located at 2215 Coquitlam Avenue, Port Coquitlam, British Columbia, V3B 1J6.
This news release is issued in accordance with the early warning requirements under applicable Canadian securities laws. An early warning report relating to the Transaction will be filed by KayMaur with applicable securities regulators and will be available for viewing under DLC’s SEDAR profile at www.sedar.com. A copy of the early warning report may be obtained by contacting the individual at the contact information provided below.
Attention: Gary Mauris or Chris Kayat
chris@dlcg.ca
