Michael Sheridan

Brenda Drisdelle

July 18, 2017 18:47 ET

Michael Sheridan and Brenda Drisdelle Report a Transfer of Trust Units of Sheridan Brothers Trust Pursuant to a Private Agreement

TORONTO, ONTARIO--(Marketwired - July 18, 2017) - Michael Sheridan, a trustee of the Sheridan Brothers Trust (the "Trust") announces that he has acquired 635,800 trust units ("Units") of the Trust pursuant to an arm's length private agreement with Brenda Drisdelle for a purchase price of $0.01 per Unit and $6,358 in the aggregate.

Immediately prior to the acquisition of Units, Michael Sheridan directly or indirectly owned 2,905,680 Units or approximately 61.6% the then issued and outstanding Units and Brenda Drisdelle owed 635,800 Units or 13.5% the then issued and outstanding Units. Following the completion of the acquisition, Mr. Sheridan directly or indirectly owns 3,541,480 Units, representing approximately 75% of the issued and outstanding Units and Ms. Drisdelle owns nil Units.

Ms. Drisdelle has sold the Units for investment purposes, and has no current intention to increase her beneficial ownership of, or control or direction over, securities of the Trust. Mr. Sheridan has acquired the Units for investment purposes, and has no current intention to increase or decrease his beneficial ownership of, or control or direction over, securities of the Trust. These investments will be reviewed on a continuing basis by Ms. Drisdelle and Mr. Sheridan, and holdings may be increased or decreased, as applicable, in the future.

In satisfaction of the requirements of the 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, Early Warning reports respecting the acquisitions of Shares by Mr. Sheridan and Ms. Drisdelle will be filed under the Trust's SEDAR Profile at www.sedar.com. For the purposes of this release the addresses of both Mr. Sheridan and Brenda Drisdelle is 73 Richmond St W, Suite 212 Toronto, Ontario, M5H 4E8.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Michael Sheridan
    Tel: 416-619-2005
    Fax: 416-619-2011