Le Lézard
Classified in: Business
Subjects: DIV, ACC

Polar Disposes of Common Shares of Cortex Business Solutions Inc.



TORONTO, July 13, 2018 /CNW/ - On June 8, 2018, Polar Asset Management Partners Inc. ("Polar"), on behalf of client accounts over which it has discretionary trading authority, disposed of 100,000 common shares ("Shares") of Cortex Business Solutions Inc. (the "Issuer"). Since filing an AMR in respect of the Issuer as at May 31, 2018, when Polar, on behalf of client accounts over which it has discretionary trading authority, exercised control or direction over 1,650,000 Shares (representing approximately 18.06% of the outstanding Shares), there has been a net decrease of 250,000 Shares over which Polar, has control or direction of, representing a net decrease of 2.74% of all outstanding Shares. As at July 13, 2018, Polar, on behalf of client accounts over which it has discretionary trading authority, exercised control or direction over an aggregate of 1,400,000 Shares, representing approximately 15.32% of the outstanding Shares. For the Shares disposed of between May 31, 2018 and July 13, 2018, Polar received an average price of $3.92 per Share, for total consideration of $980,000.00 being received for the Shares disposed of in such period.

The Shares were disposed of on the facilities of the TSX Venture Exchange, in the ordinary course of business, for investment purposes only and not for the purpose of exercising control or direction over the Issuer. Polar may from time to time, on its own behalf or on behalf of client accounts, acquire additional securities of the Issuer, dispose of some or all of the currently held or additional securities of the Issuer or may continue to hold the securities of the Issuer.

Address of the Issuer
Suite 130, 115 Quarry Park Road SE
Calgary, Alberta
T2C 5G9

About Polar Asset Management Partners Inc.
Established in 1991, Polar Asset Management Partners Inc. is registered as an Investment Fund Manager with the Ontario Securities Commission and is a member of the Investment Industry Regulatory Organization of Canada. Polar acts as investment manager of certain investment funds and investment advisor to other managed accounts and manages and/or advises over $4.3 billion of client funds.

Additional Information
Neither the issuance of this news release nor the filing by Polar of an "early warning" report required to be filed in accordance with applicable Canadian securities laws is an admission that any individual or entity named or referred to in this news release or in an "early warning" report of Polar owns or controls any described securities or is a joint actor with another individual or entity named or referred to in this news release.

The address of Polar and other contact information is set forth below. For further information, including to obtain a copy, once filed, of the "early warning" report required to be filed in accordance with applicable Canadian securities laws, contact Polar at the address specified below:

Polar Asset Management Partners Inc.
401 Bay Street
Suite 1900, P.O. Box 19
Toronto, Ontario
M5H 2Y4

SOURCE Polar Asset Management Partners Inc.


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News published on 13 july 2018 at 16:19 and distributed by: