VANCOUVER, BRITISH COLUMBIA / LONDON, UNITED KINGDOM (October 19, 2020) – Strategem Capital Corporation (TSXV: SGE) (the “Company”) is pleased to announce that SKKY Capital Corporation Limited (“SKKY”) has acquired 2,599,429 common shares (the “Common Shares”) in the capital of the Company pursuant to certain private transactions which are exempt from the take-over bid requirements pursuant to section 4.2(1) of National Instrument 62-104. SKKY will hold 60% of the issued and outstanding common shares of the Company.
Purchase of Shares
SKKY acquired the Common Shares at a deemed price of $2.29 per Common Share.
Prior to the acquisition, SKKY held no common shares in the capital of the Company, which was equal to 0% of the issued and outstanding common shares of the Company.
Following the acquisition, SKKY holds 2,599,429 common shares in the capital of the Company, which is equal to 60% of the issued and outstanding common shares of the Company.
SKKY acquired the Shares for purposes of affecting control of the Company. In pursuing such purposes, SKKY takes a long-term view of its investment. SKKY reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Company. Depending on market conditions and other factors, SKKY may acquire additional securities of the Company as SKKY may deem appropriate, whether in open market purchases, privately negotiated transactions or otherwise. SKKY may dispose of some or all of such securities. SKKY may also reconsider and change its plans or proposals relating to the foregoing.
Change of Directors and Officers
In connection with the completion of the acquisition, the following officers and directors of the Company have resigned:
Ken Morgan – Chief Executive Officer and Director
Winnie Wong Chief Financial Officer
Michael Katz – Director
Mark Brown – Director
Marc Blythe – Director
The Company is pleased to announce the appointment of the following persons as the board of directors of the Company:
Gordon Flatt – Director
Matthew Cicci – Director
Stockwell Day – Director
Desmond Balakrishnan – Director
In addition, the Company is pleased to announce the appointment of the executive management as follows:
Jo-Anne O’Connor – Chief Executive Officer
Carol Fozo – Chief Financial Officer
Jo-Anne O’Connor, CEO
Ms. O’Connor is a highly motivated, hands on, and goal oriented capital markets expert specializing in Institutional Equity Trading. She focuses on both Institutional Agency/Coverage and Sector/Liability trading teams and consistently improves market share and builds rapport and understanding, both internally and externally, to deepen client relationships and get results. She is currently the Managing Director of Crescentwood Capital in Toronto, Ontario and has been in this position since 2017. Prior to this she worked for several years with CIBC in various positions including the Managing Director and Co-Head of Institutional Equity Trading and the Managing Director and Head of Liability Trading. Ms. O’Connor has a Bachelor of Arts in Economics from Western University and has attended the NFP Governance Essentials Program at the Rotman School of Management.
Carol Fozo, CFO
Ms. Fozo, CPA, CMA, is a self-motivated leader dedicated to maximizing team dynamic and productivity, proving effective in both start-up phases and established business settings. She has a strong working knowledge of financial accounting processes and reporting, system processes and internal controls. Ms. Fozo previously worked with Noront Resources Ltd., a mineral development company, as the Controller for several years. Prior to that, she was the Head of Finance at GSUS Canada Ltd., as well as the VP Finance of Pyxis Capital Inc., a publically traded investment Company, and The Coastal Group, a privately held investment company. Ms. Fozo has a Bachelor of Arts with Honours in Chartered Accountancy Studies, as well as a Post Baccalaureate Diploma in Accounting, both from the University of Waterloo. In addition, she has completed the CMA Accelerated Program, the CMA Strategic Leadership Program and CMA Certification, and the Master Controller Certificate Program, as well as received a certificate in Human Resources for Accounting Professionals.
Early Warning Report filed pursuant to National Instrument 62-103
This press release is issued pursuant to early warning requirements of National Instrument 62-104 and National Instrument 62-103, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report is available under the Company’s SEDAR profile at www.sedar.com.
For further information with respect to SKKY, please contact:
Chief Investment Officer of SKKY
Phone: +44 20 3299 9932
For further information with respect to Strategem, please contact:
Chief Executive Officer of Strategem
Forward Looking Information
This press release contains “forward-looking statements” within the meaning of applicable securities laws, such as statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Use of words such as “may”, “will”, “expect”, “believe”, “intends”, “likely”, or other words of similar effect may indicate a “forward-looking” statement. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in the Company’s publicly filed documents (available on SEDAR at www.sedar.com). Many of these risks and uncertainties can affect the Company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statement made by the Company or on its behalf. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements in this press release are qualified by these cautionary statements. These statements are made as of the date of this news release and, except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The Company does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by the Company or on the Company’s behalf, except as required by applicable law.
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”