Pinetree acquired 1,214,500 Quorum Shares representing approximately 1.7% of the outstanding Quorum Shares, for consideration of
L6 acquired 3,905,500 Quorum Shares representing approximately 5.3% of the outstanding Quorum Shares, for consideration of
Each of L6 and Pinetree acted as a joint actor of the other in respect of the L6 Acquisition and the Pinetree Acquisition, respectively. The acquisitions were made pursuant to the Purchase Agreement and not on a stock exchange or other market. Following the completion of the L6 Acquisition and the Pinetree Acquisition, L6 and Pinetree together beneficially own 8,407,000 Quorum Shares, representing approximately 11.5% of issued and outstanding Quorum Shares.
The purpose of both the L6 Acquisition and the Pinetree Acquisition was for investment purposes. Each of L6 and Pinetree may increase or decrease their respective investments in the securities of Quorum depending on their respective evaluation of Quorum's business, prospects and financial condition, the market for Quorum's securities, general economic and tax conditions and other factors.
A copy of the early warning report filed by Pinetree and L6 in connection with the foregoing is available on SEDAR. A copy may also be obtained from
L6's head office is located at
Contact:
Chief Financial Officer
T: 416-941-9600 x 200
E: jbouffard@pinetreecapital.com
WEB: www.pinetreecapital.com
(C) 2022 Electronic News Publishing, source