/NOT FOR DISSEMINATION IN THE
UNITED STATES/
TORONTO, Feb. 22, 2022 /CNW/ - Daniel Drimmer announced today that in
connection with the initial public offering (the "Public
Offering") of Starlight Western Canada Multi-Family (No. 2)
Fund (the "Fund") on February 22,
2022, he acquired, through D.D. Acquisitions Partnership
("DDAP"), beneficial ownership of 600,000 class C trust
units ("Class C Units") of the Fund at a price of
$10.00 per Class C Unit for an
aggregate subscription price of $6,000,000. The Fund's head office is located at
3280 Bloor St West, Suite 1400, Toronto,
Ontario M8X 2X3.
2387349 Ontario Limited also announced today that pursuant to
the Public Offering, it acquired beneficial ownership of 500,000
Class C Units of the Fund at a price of $10.00 per Class C Unit for an aggregate
subscription price of $5,000,000.
Arlene Christiansen also
announced today that pursuant to the Public Offering, she acquired,
through Christiansen Investments Inc., beneficial ownership of
500,000 Class C Units of the Fund at a price of $10.00 per Class C Unit for an aggregate
subscription price of $5,000,000.
Mark Pathy also announced today
that pursuant to a concurrent private placement completed alongside
the Offering (the "Private Placement", and together with the
Public Offering, the "Offering"), he acquired, through
Mavrik Corp., beneficial ownership of 500,000 Class C Units of the
Fund at a price of $10.00 per Class C
Unit for an aggregate subscription price of $5,000,000.
Upon completion of the Offering, the Class C Units beneficially
owned by Mr. Drimmer represented approximately 17.7% of all issued
and outstanding Class C Units.
Upon completion of the Offering, the Class C Units beneficially
owned by 2387349 Ontario Limited represented approximately 14.8% of
all issued and outstanding Class C Units.
Upon completion of the Offering, the Class C Units beneficially
owned by Ms. Christiansen represented approximately 14.8% of all
issued and outstanding Class C Units.
Upon completion of the Offering, the Class C Units beneficially
owned by Mr. Pathy represented approximately 14.8% of all issued
and outstanding Class C Units.
Mr. Daniel Drimmer's indirect
ownership of, or control or direction over, Class C Units is for
investment purposes and is intended to further align the interests
of Mr. Daniel Drimmer with those of
the Fund's other unitholders. Mr. Daniel Drimmer, through DDAP or otherwise, may
acquire additional trust units of the Fund ("Units") or may
dispose of any or all of the beneficially held Units from time to
time through, among other things, the purchase or sale of Units in
private transactions or otherwise, on such terms and at such times
as Mr. Daniel Drimmer may deem
advisable depending upon an ongoing evaluation of the Units, the
Fund, prevailing market conditions, the availability of Units at
prices that would make the purchase or sale of Units desirable,
other investment opportunities, liquidity requirements of Mr.
Daniel Drimmer and/or other
considerations.
2387349 Ontario Limited's ownership of Class C Units is for
investment purposes. 2387349 Ontario Limited may acquire
additional Units or may dispose of any or all of the beneficially
held Units from time to time through, among other things, the
purchase or sale of Units in private transactions or otherwise, on
such terms and at such times as 2387349 Ontario Limited may deem
advisable depending upon an ongoing evaluation of the Units, the
Fund, prevailing market conditions, the availability of Units at
prices that would make the purchase or sale of Units desirable,
other investment opportunities, liquidity requirements of 2387349
Ontario Limited and/or other considerations.
Ms. Christiansen's indirect ownership of Class C Units is for
investment purposes. Ms. Christiansen, through Christiansen
Investments Inc. or otherwise, may acquire additional Units or may
dispose of any or all of the beneficially held Units from time to
time through, among other things, the purchase or sale of Units in
private transactions or otherwise, on such terms and at such times
as Ms. Christiansen may deem advisable depending upon an ongoing
evaluation of the Units, the Fund, prevailing market conditions,
the availability of Units at prices that would make the purchase or
sale of Units desirable, other investment opportunities, liquidity
requirements of Ms. Christiansen and/or other considerations.
Mr. Pathy's indirect ownership of Class C Units is for
investment purposes. Mr. Pathy, through Mavrik Corp. or
otherwise, may acquire additional Units or may dispose of any
or all of the beneficially held Units from time to time through,
among other things, the purchase or sale of Units in private
transactions or otherwise, on such terms and at such times as Mr.
Pathy may deem advisable depending upon an ongoing evaluation of
the Units, the Fund, prevailing market conditions, the availability
of Units at prices that would make the purchase or sale of Units
desirable, other investment opportunities, liquidity requirements
of Mr. Pathy. and/or other considerations.
DDAP is an Ontario general
partnership, the principal business of which is to make investments
with its head office at 3280 Bloor St West, Suite 1400,
Toronto, Ontario M8X 2X3.
2387349 Ontario Limited is a corporation existing under the laws
of the Province of Ontario, the
principal business of which is investments with an office at 3280
Bloor Street West, Centre Tower, Suite 1400,Toronto, Ontario M8X 2X3
Christiansen Investments Inc. is a corporation existing under
the laws of the Province of Ontario, the principal business of which is
investments with its head office at 188 North Shore Blvd. E.
Burlington, ON L7T 1W4.
Mavrik Corp. is a corporation existing under the federal laws of
Canada, the principal business of
which is investments with its head office at 99 Prince Street,
Suite 700, Montréal, QC H3C 2M7.
Each of the foregoing holders of units of the Fund disclaims
acting jointly or in concert with the other foregoing holders of
Units unless expressly noted herein, and notes that this press
release has been issued by all such holders purely for reasons of
administrative efficiency following today's completion of the
Offering and the concurrent private placement. Any
presumption of joint or in concert actor based solely upon the
issuance or content of this press release is inaccurate.
For further information and to obtain a copy of the early
warning reports to be filed by each of the foregoing holders of
Units under applicable Canadian securities laws, please see the
Fund's profile on SEDAR at www.sedar.com.
SOURCE Starlight Group Property Holdings Inc.