KST Industries Inc. Announces Acquisition of Additional Shares of Data Communications Management Corp.
06 Janvier 2020 - 11:11PM
KST Industries Inc. (“
KST”) announces that,
further to the closing on January 6, 2020 by DATA Communications
Management Corp. (the
“
Company”)(
TSX:
DCM) of the rights offering transaction announced
by the Company on November 27, 2019 (the
“
Transaction”), it acquired ownership of an
aggregate of 3,148,718 commons shares (the “
Purchased
Shares”) in the capital of the Company at a price of $0.23
per share for an aggregate purchase price of $724,205.14.
Prior to the acquisition of the Purchased
Shares, KST owned 2,000,878 common shares in the capital of the
Company (each, a “Common Share”) representing
approximately 9.30% of the issued and outstanding Common
Shares.
Pursuant to the Transaction, KST acquired an
aggregate of 3,148,718 Purchased Shares at a price of $0.23 per
share. Following completion of the Transaction, KST now owns
5,149,596 Common Shares representing approximately 11.96% of the
issued and outstanding Common Shares.
KST acquired the Purchased Shares for investment
purposes. KST may increase or decrease its ownership of Common
Shares from time to time depending on, among other things, the
Company’s business and prospects, future market conditions, and
factors related to KST’s business.
For more information and to obtain a copy of the
early warning report required by securities legislation and filed
on SEDAR under the Company’s company profile at www.sedar.com,
please contact:
Harinder S. Takhar, Chairman of KST Industries
Inc. 6400 Northam DriveMississauga, Ontario. L4V 1J1Telephone:
905-362-6400
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