TORONTO, June 24,
2024 /CNW/ - The Reko Family Corporation (the
"Seller") and 1000926094 Ontario Inc. (the "Buyer)
jointly announce the sale of an aggregate of 3,144,672 common
shares (the "Common Shares") of Reko International Group
Inc. (the "Issuer") by the Seller to the Buyer, a wholly
owned subsidiary of the Seller, at a price of $4.09 per Common Share (the
"Transaction").
Prior to closing of the Transaction, (i) the Seller owned
3,144,672 Common Shares, representing approximately 56.52% of the
issued and outstanding Common Shares, of the Issuer, and (ii) the
Buyer owned no Common Shares of the Issuer.
As a result of closing of the above-noted Transaction, (i) the
Seller owns no Common Shares of the Issuer, and (ii) the Buyer now
owns 3,144,672 Common Shares, representing approximately 56.52% of
the issued and outstanding Common Shares, of the Issuer.
The Buyer has no present intention of acquiring additional
securities of the Issuer or of making any strategic or other
changes to the business, management of operations of the Issuer.
Depending upon its evaluations of the business, prospects and
financial condition of the Issuer, the market for the Issuer's
securities, general economic and tax conditions and other factors,
the Buyer may acquire more or sell some or all of its securities of
the Issuer or propose changes to the business, management of
operations of the Issuer.
The Transaction was exempt from the formal bid requirements
pursuant to the provisions of section 4.2 - Private agreement
exemption of National Instrument 62-104 – Take-Over Bids and
Issuer Bids.
For more information and to obtain a copy of each of the early
warning reports required by securities legislation and filed on
SEDAR under the Issuer's profile at www.sedar.com, please
contact:
The Reko Family Corporation
Diane Reko
Telephone: 519 727-3287
100926094 Ontario Inc.
Diane Reko
Telephone: 519 727-3287
SOURCE Reko International Group Inc.