TORONTO, Dec. 22, 2020 – Eastwood Capital Corp. (the “Acquiror“) has today filed an early warning report (the “Early Warning Report“) advising of its acquisition of an aggregate of 2,211,400 common shares (the “Shares“) of Automotive Finco Corp. (the “Company“) through a private transaction. The Shares were purchased at a price of $1.50 per Share for total aggregate consideration of $3,317,100 (the “Transaction“).
On December 22, 2020, the Acquiror purchased 2,211,400 Shares (the “Transaction“). The Acquiror previously held 1,668,399 Shares which represented approximately 7.4% of the outstanding Shares of the Company. After the Transaction, the Acquiror will own 3,879,799 Shares, in aggregate, representing approximately 17.2% of the total Shares of the Company.
The Shares were purchased for investment purposes. The Acquiror has a long-term view of the investment and may, in the future, acquire ownership of, or control over, additional Shares of the Company, hold or, from time to time, dispose of some or all of the Shares over which it exercises control or direction, depending on market conditions, the business and prospects of the Company and other relevant factors.
This news release is being issued as required by National Instrument 62-104 – Take-Over Bids and Issuer Bids and relates to the Company, whose head office is located at 8 King Street East, Suite 1800, Toronto, Ontario, M5B 1C5, and to the Acquiror. A copy of the Early Warning Report can be obtained at www.sedar.com under the Company’s company profile, or by contacting Halley Chen telephone: (416) 681-6365.
SOURCE Eastwood Capital Corp.
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