Wesana Health: Early Warning News Release
CHICAGO, Aug. 24, 2021 (GLOBE NEWSWIRE) -- “Wesana Health Holdings Inc. (“Wesana” or “The Company”)(CSE:WESA; OTCBQB: WSNAF) would like to report that Chad Bronstein (the “Reporter”) of Chicago, Illinois, the Executive Chairman of Wesana Health Holdings Inc. (the “Company”), has filed an early warning report in accordance with National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues related to the conversion of 3,900 Multiple Voting Shares of the Issuer into 195,000 Subordinate Voting Shares of the Issuer.
After the conversion of Multiple Voting Shares described above, the Reporter now holds 35,100 Multiple Voting Shares, representing 28.0% of the currently issued and outstanding Multiple Voting Shares, and 195,000 Subordinate Voting Shares, representing 1.5% of the outstanding Subordinate Voting Shares (assuming in the calculation of outstanding Subordinate Voting Shares, the conversion of all Multiple Voting Shares and Super Voting Shares, but no other securities). If the Reporter were to convert all remaining Multiple Voting Shares held into Subordinate Voting Shares, the Reporter would hold 7.5% of then outstanding Subordinate Voting Shares (calculated on a partially diluted basis, assuming in the calculation of the Reporter’s holdings and the calculation of outstanding Subordinate Voting Shares, the conversion of all Multiple Voting Shares and Super Voting Shares, but no other securities). The Multiple Voting Shares were converted pursuant to their terms for no further consideration.
The shares held or controlled by Mr. Bronstein are for investment purposes and are subject to an escrow time-based release schedule, as will be more particularly described in the early warning report. Mr. Bronstein currently has no plans or intentions that relate to, or would result in, any of the actions requiring disclosure under the early warning reporting provisions of applicable securities laws. In accordance with applicable securities laws, Mr. Bronstein may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments of the Company in the open market or otherwise, and reserves the right to dispose of any or all of such securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to such securities, the whole depending on market conditions, the business and prospects of the Company and other relevant factors, subject to applicable escrow restrictions.
A copy of the early warning report has been filed by Mr. Bronstein under the Company's profile on SEDAR at www.sedar.com or may be obtained by contacting Nick Opich at 212-896-1206.
On behalf of the Board of Directors:
Daniel Carcillo, Chief Executive Officer
Phone: (773) 236-7972
For more information, please contact:
Nick Opich / Annie Graf
KCSA Strategic Communications
Phone: 212-896-1206 / 786-390-2644
Released August 24, 2021