Fields converted 105 of his series F multiple voting shares in the capital DionyMed Brands Inc. into subordinate voting shares in the capital of the Corporation at a rate of 5,000 Subordinate Voting Shares for each Series F Multiple Voting Shares converted, in accordance with the constating documents of the Corporation.
TORONTO, June 10, 2019 /CNW/ - On May 8, 2019, Mr. Fields converted (the “May Conversion”) 105 of his series F multiple voting shares (the “Series F Multiple Voting Shares”) in the capital DionyMed Brands Inc. (the “Corporation”) into subordinate voting shares in the capital of the Corporation (the “Subordinate Voting Shares”) at a rate of 5,000 Subordinate Voting Shares for each Series F Multiple Voting Shares converted, in accordance with the constating documents of the Corporation. For greater certainty, upon completion of the May Conversion, Mr. Fields disposed of 105 Series F Multiple Voting Shares in exchange for 525,000 Subordinate Voting Shares. The May Conversion did not trigger a requirement to file an early warning report. Prior to the May Conversion, Mr. Fields owned 2,199 Series F Multiple Voting Shares representing approximately 34.92% of the issued and outstanding Series F Multiple Voting Shares. Pursuant to the May Conversion, Mr. Fields disposed of approximately 1.67% of the issued and outstanding Series F Multiple Voting Shares and owned 33.81% of the issued and outstanding Series F Multiple Voting Shares. As a result of the May Conversion, the number of Subordinate Voting Shares owned by Mr. Fields increased from 2,026,329 (approximately 7.88% of the issued and outstanding Subordinate Voting Shares) to 2,551,329 (approximately 9.91% of the issued and outstanding Subordinate Voting Shares).
On June 5, 2019, Mr. Fields converted (the “June Conversion”, together with the May Conversion, the “Conversions”) an additional 670 of his Series F Multiple Voting Shares into Subordinate Voting Shares at a rate of 5,000 Subordinate Voting Shares for each Series F Multiple Voting Shares converted, in accordance with the constating documents of the Corporation. For greater certainty, upon completion of the June Conversion, Mr. Fields disposed of 670 Series F Multiple Voting Shares in exchange for 3,350,000 Subordinate Voting Shares. Prior to the June Conversion, Mr. Fields owned 2,094 Series F Multiple Voting Shares representing approximately 33.81% of the issued and outstanding Series F Multiple Voting Shares. Pursuant to the June Conversion, Mr. Fields disposed of 10.82% of the issued and outstanding Series F Multiple Voting Shares and now owns 25.78% of the issued and outstanding Series F Multiple Voting Shares. As a result of the June Conversion, the number of Subordinate Voting Shares owned by Mr. Fields increased from 2,551,329 (approximately 9.92% of the issued and outstanding Subordinate Voting Shares) to 5,901,329 (approximately 19.94% of the issued and outstanding Subordinate Voting Shares).
The Conversions affected Mr. Fields’ ownership of shares of each class but, as each Series F Multiple Voting Shares carries the economic and voting rights of 5,000 Subordinate Voting Shares, Mr. Fields’ economic and voting rights with respect to the Corporation remain unchanged as a result of the Conversions.
The Conversions were undertaken in order to increase the number of issued and outstanding Subordinate Voting Shares. Depending on market and other conditions, or as future circumstances may dictate, Mr. Fields may from time-to-time convert further Series F Multiple Voting Shares subject to the conversion limitations set out in the constating documents of the Corporation. The Company’s Subordinate Voting Shares are listed on the Canadian Securities Exchange (the “CSE”) under the symbol “DYME” and the Subordinate Voting Shares issued upon the Conversion are listed on the CSE.
The Company is located at 885 W. Georgia Street, Suite #2200, Vancouver, British Columbia. Mr. Fields is located at 17 Somerset Square, London, UK, W148EE.
SOURCE DionyMed Brands Inc.
Company Codes: CNSX:DYME
