TORONTO, Oct. 10,
2024 /CNW/ - BMO Nesbitt Burns Inc. ("BMO
Nesbitt Burns") today announced that on October 10, 2024, it reduced its holdings of High
Liner Foods Incorporated (the "Company") by 800,000 common shares
("Common Shares"), representing approximately 2.67% of the issued
and outstanding Common Shares, through the facilities of the
Toronto Stock Exchange at a price of $13.60 per Common Share for aggregate gross
proceeds of $10,880,000 (the
"Disposition").
As announced on June 6, 2024, the
Company cancelled 2,429,014 Common Shares under the Rubicon
Resources, LLC settlement (the "Settlement Share Cancellation").
Prior to the Settlement Share Cancellation, BMO Nesbitt Burns
beneficially owned or exercised control or direction over 3,200,000
Common Shares representing approximately 9.74% of the issued and
outstanding Common Shares (without taking into account the
Settlement Share Cancellation).
Immediately prior to the Disposition, the number of Common
Shares beneficially owned by BMO Nesbitt Burns or over which it
exercised control or direction remained unchanged at 3,200,000
Common Shares, representing approximately 10.69% of the issued and
outstanding Common Shares as reported by the Company as of
August 7, 2024 (which takes into account the Settlement Share
Cancellation as well as shares repurchased for cancellation under
the Company's normal course issuer bid).
Immediately following the Disposition, BMO Nesbitt Burns
beneficially owned or exercised control or direction over 2,400,000
Common Shares representing approximately 8.02% of the issued and
outstanding Common Shares. Accordingly, BMO Nesbitt Burns is no
longer subject to the early warning reporting requirements in
respect of the Company, as BMO Nesbitt Burns has fallen below the
10% reporting threshold.
BMO Nesbitt Burns held and disposed of the Common Shares in the
ordinary course of business in connection with derivative
arrangements entered into by BMO Nesbitt Burns and an affiliate. In
the future, BMO Nesbitt Burns and its affiliate may acquire
additional securities of the Company or dispose of such securities
subject to a number of factors, including general market and
economic conditions, and other available business opportunities, or
enter into transactions that increase, decrease or hedge its
economic exposure to securities of the Company without affecting
its beneficial ownership, in each case, subject to applicable
law.
This press release is being issued pursuant to National
Instrument 62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues, which also requires
a report to be filed in accordance with applicable securities laws
(the "Early Warning Report"). A copy of the Early Warning Report
will be available under the Company's profile on SEDAR+ at
www.sedarplus.ca, or by contacting Kelly
Hechler at Kelly.Hechler@bmo.com or (647) 218-4830.
BMO Nesbitt Burns' head office is located at 1 First Canadian
Place, Toronto, Ontario, M5X
1H3. BMO Nesbitt Burns is a fully integrated Canadian
investment dealer and is existing under the federal laws of
Canada.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North
America by assets, with total assets of $1.4 trillion as of July
31, 2024. Serving customers for 200 years and counting, BMO is a
diverse team of highly engaged employees providing a broad range of
personal and commercial banking, wealth management, global markets
and investment banking products and services to 13 million
customers across Canada, the United
States, and in select markets globally. Driven by a single
purpose, to Boldly Grow the Good in business and life, BMO
is committed to driving positive change in the world, and making
progress for a thriving economy, sustainable future, and inclusive
society.
SOURCE BMO Financial Group
