ESW Capital, LLC

August 10, 2016 16:30 ET

ESW Capital, LLC Acquires Common Shares in the Capital of Redknee Solutions Inc.

TORONTO, ONTARIO--(Marketwired - Aug. 10, 2016) -

This press release is issued pursuant to Multilateral 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.

ESW Capital, LLC ("Offeror") announces that is has acquired ownership of an aggregate of 12,500,000 common shares (the "Common Shares") in the capital of Redknee Solutions Inc. (the "issuer") on the Toronto Stock Exchange. The aggregate acquisition cost of the Common Shares was between CAD$1.50 and CAD$1.70 per Common Share. As a result of the acquisition of the Common Shares, the Offeror now owns and exercises control over an aggregate of 12,500,000 Common Shares, representing 11.55% of the issued and outstanding Common Shares of the issuer.

The Common Shares referred to above were made in the ordinary course of business and were made for investment purposes. The Offeror has not made any determinations with respect to its role in the future of the issuer and its business or with respect to future acquisitions of, ownership of, or control over, any additional securities of the issuer. The Offeror may in the future acquire additional securities of the issuer in the market or through private or other transactions, sell all or some portion of the securities of the issuer it controls or owns, or enter into derivative or other transactions with respect to its securities of the issuer.

The issuer is located at 2560 Matheson Blvd. East Mississauga, Ontario, L4W 4Y9, Canada. The Offeror is located at 401 Congress Avenue, Suite 2650, Austin, TX 78701, United States. A copy of the early warning report to which this news release relates can be obtained from Andrew Simon Price at +1 512 524 6149 or on the SEDAR profile of the issuer at www.sedar.com.

Contact Information

  • Andrew Simon Price
    +1 512 524 6149