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TORONTO, Jan. 21, 2022 /CNW/ - EdgePoint Investment Group Inc. ("EdgePoint") announces that on January 21, 2022, it acquired 136,152 common shares (the "Shares") of CES Energy Solutions Corp. (the "Reporting Issuer"), representing approximately 0.05% of the outstanding Shares, on behalf of an account it manages.
Prior to the acquisition, EdgePoint exercised control over 52,768,151 Shares of the Reporting Issuer, representing a security holding percentage of approximately 20.7% of the outstanding Shares. As a result of the acquisition, EdgePoint now exercises control over 52,904,303 Shares (including 26,537,275 Shares beneficially owned by EdgePoint Canadian Portfolio ("EPCP") or approximately 10.4% of the outstanding Shares), representing a total security holding percentage of approximately 20.8% of the outstanding Shares. EdgePoint has control over but not ownership of the Shares and provides discretionary portfolio management services to various accounts, including EPCP. EPCP did not acquire ownership of any of the Shares that triggered the requirement to issue and file this news release.
The Shares were acquired through the facilities of the Toronto Stock Exchange. The consideration paid per Share was $2.33 resulting in total consideration of $317,234 paid. The acquisition was completed in accordance with the normal course purchase exemption outlined in Section 4.1 of Part 4 of National Instrument 62-104 ? Take-Over Bids and Issuer Bids ("NI 62-104"). Specifically, (i) the bid was for not more than 5% of the outstanding Shares, (ii) the aggregate number of Shares acquired in reliance on this exemption by EdgePoint within the past twelve months, when aggregated with acquisitions otherwise made by EdgePoint within the past twelve months, does not exceed 5% of the Shares outstanding at the beginning of the twelve month period, (iii) there is a published market for the Shares, and (iv) the value of the consideration paid for the Shares was not in excess of the market price as determined in accordance with Section 1.11 of NI 62-104 plus reasonable brokerage fees or commissions actually paid.
The acquisition of Shares of the Reporting Issuer by EdgePoint, including those Shares beneficially owned by EPCP, has been made in the ordinary course of business and was made for investment purposes. EdgePoint may in the future acquire or dispose of additional Shares of the Reporting Issuer or may enter into derivative or other transactions with respect to such Shares on behalf of accounts it manages.
EdgePoint will cease to file reports in accordance with the alternative monthly reporting system under Part 4 of National Instrument 62-103 ? The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") for the Reporting Issuer. EPCP is not an eligible institutional investor and therefore would not be permitted to file reports in accordance with the alternative monthly reporting system under Part 4 of NI 62-103 for the Reporting Issuer.
EdgePoint is located at 150 Bloor Street West, Suite 500, Toronto, Ontario, M5S 2X9. The Reporting Issuer's head office is located at 332 6th Avenue S.W., Suite 1400, Calgary, Alberta, T2P 0B2.
EdgePoint is issuing this press release pursuant to the requirements of NI 62-103. A copy of the related early warning report (the "Report") will be issued by EdgePoint and filed on SEDAR website (www.sedar.com) under the profile of the Reporting Issuer. For further information or to obtain a copy of the Report, please contact Sayuri Childs at (416) 963-9353.
This is not an offer to purchase. Mutual funds can only be purchased through a registered Dealer. Please read the simplified prospectus before investing. Copies are available from your financial advisor or at www.edgepointwealth.com. EdgePoint is a registered trademark of EdgePoint Investment Group Inc. EdgePoint® and Owned and Operated by InvestorsTM are trademarks of EdgePoint Investment Group Inc
SOURCE EdgePoint Investment Group Inc.
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