Mayde Inc. (the "Holder") announced today that on February 28, 2022, the Holder exchanged (the "Exchange") an aggregate of 67,000 exchangeable units of Spartan Partners Holdings, LLC (the "Exchangeable Units"), a partially owned subsidiary of Gage Growth Corp. (the "Issuer"), into 3,350,000 subordinate voting shares of the Issuer (the "Subordinate Voting Shares"). In connection with the Exchange, the Issuer redeemed 67,000 super voting shares of the Issuer (the "Super Voting Shares") from the Holder in accordance with the terms of the articles of the Issuer (the "Redemption").
Prior to the Redemption, the Holder held beneficial ownership of 600,000 Super Voting Shares, representing 40% of the Super Voting Shares outstanding immediately before the Redemption. Immediately following the Redemption, the Holder held beneficial ownership of 533,000 Super Voting Shares, representing 37.195% of the Super Voting Shares outstanding immediately following the Redemption.
Pursuant to the Redemption, the Holder received C$6.70, which is the amount equal to the issue price of the 67,000 Super Voting Shares so redeemed.
The Holder may dispose of the newly exchanged Subordinate Voting Shares through one or more private transactions, subject to market conditions.
The Holder is located at Suite 188, 3-35 Stonechurch Road Ancaster ON L9K1S4. To obtain a copy of the early warning report applicable to the Redemption, please contact Rami Reda at 905-577-3436. The address of the head office of the Issuer is located at 77 King Street West, Suite 400, Toronto-Dominion Centre, Toronto, ON M5K 0A1.
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