HALIFAX, NS, Aug. 19, 2022 /CNW/ - G2S2 Capital Inc. ("G2S2") announces that it has acquired ownership of, and control over, an additional $246,000 principal amount of Clarke Inc. Convertible Debentures ("Convertible Debentures") which, if converted, would entitle G2S2 to 17,904 common shares of Clarke Inc. ("Clarke") and represent 0.12% of the outstanding common shares of Clarke ("Common Shares"). G2S2 acquired the Convertible Debentures on August 18, 2022, through the facilities of the Toronto Stock Exchange at a price of $989.65 per $1,000 of principal (the "Acquisition").
Prior to the Acquisition, G2S2 owned and exercised control over an aggregate of 10,399,101 Common Shares and $7,340,000 principal amount of Convertible Debentures which, if converted, would entitle G2S2 to an additional 534,205 Common Shares, representing a securityholding percentage of 74.20% (assuming conversion of the Convertible Debentures held by G2S2). Immediately after the Acquisition, G2S2 owns and exercises control over 10,399,101 Common Shares and $7,586,000 principal amount of Convertible Debentures which, if converted, would entitle G2S2 to an additional 552,109 Common Shares, representing a securityholding percentage of 74.23% in the Common Shares (assuming conversion of the Convertible Debentures held by G2S2).
The Convertible Debentures were purchased for investment purposes. G2S2, may, from time to time, acquire additional Common Shares or Convertible Debentures, or dispose of some or all of their current or additional Common Shares or Convertible Debentures, in the normal course of their investment activities.
G2S2 has filed an early warning report relating to this press release on the System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Clarke's issuer profile.
G2S2 Capital Inc. is a privately held investment holding company focused on creating value across a variety of businesses with a long term horizon. G2S2 is incorporated under the laws of Canada. G2S2 is controlled by George & Simé Armoyan.
SOURCE G2S2 Capital Inc.
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