TORONTO, July 11, 2024 (GLOBE NEWSWIRE) -- Roy Sebag, a director of Menē Inc. (the “Company”), would like to announce an update to his beneficial ownership of the Company pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”). As a result of recent acquisitions (the “Acquisitions”) made by Mr. Sebag through the facilities of the TSX Venture Exchange, the most recent of which being the acquisition of 293,500 class B subordinate voting shares (“Subordinate Shares”) of the Company on July 9, 2024, for aggregate consideration of CAD$35,220, at an average cost of CAD$0.12 per Subordinate Share (the “Purchased Shares”), Mr. Sebag will file an early warning report in accordance with the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids.
Following the completion of the Acquisitions, Mr. Sebag now owns 7,894,897 Subordinate Shares, representing approximately 39% of the issued and outstanding Subordinate Shares on a partially diluted basis. The Acquisitions, in conjunction with certain Company events, represents a change of over 2% in Mr. Sebag’s holdings in the Company since the filing of Mr. Sebag’s last early warning report on November 5, 2018, where Mr. Sebag held 5,487,001 Subordinate Shares representing 43.35% of the Subordinate Shares on a partially diluted basis.
The Purchased Shares were acquired for investment purposes. Mr. Sebag has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions or other relevant factors.
This news release is issued pursuant to NI 62-103, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report will be made available under the Company’s profile on SEDAR+ (www.sedarplus.ca).
For further information or to receive a copy of the early warning report, please contact:
Roy Sebag
110 Yonge Street, Suite 1601 |
Toronto, ON M5C 1T4
T: 647-259-1790
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
