BRAMPTON, ON, Sept. 18, 2020 /CNW/ - DATA Communications Management Corp. ("DCM" or the "Company")(TSX: DCM), a leading provider of marketing and business communications solutions to companies across North America, announced today that Chris Lund, Chief Innovation Officer of the Company, has purchased additional common shares of DCM ("Common Shares"), which, assuming the exercise of all convertible securities to acquire Common Shares held by Mr. Lund and his spouse, would result in Mr. Lund and his spouse holding more than 10% of the issued and outstanding Common Shares.
The following information is being provided on behalf of Mr. Lundin accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
Mr. Lund is a participant in the Company's employee share ownership plan ("ESOP"), pursuant to which Mr. Lund has elected to make regular, voluntary, bi-monthly payroll contributions based upon a certain percentage of his base salary, which funds are used to purchase Common Shares on the Toronto Stock Exchange. On September 17, 2020, Mr. Lund acquired beneficial ownership of, or control over, a total of 7,994 Common Shares (the "Acquired Shares") at a price of $0.2606 per Common Share and an aggregate purchase price of $2,083.33. The Acquired Shares were acquired by Mr. Lund under the ESOP.
Immediately prior to the acquisition of the Acquired Shares, Mr. Lund and his joint actors had beneficial ownership of, or control over, 4,087,317 Common Shares, and warrants to acquire up to 215,450 Common Shares at an exercise price of $0.185 per share (the "Warrants"), representing 9.99% of the outstanding Common Shares (in each case prior to giving effect to the Acquired Shares). After giving effect to the acquisition of the Acquired Shares, and assuming the exercise in whole of the Warrants, Mr. Lund and his joint actors have beneficial ownership of, or control over, 4,310,761 Common Shares, representing 10.01% of the issued and outstanding Common Shares.
Mr. Lund purchased the Acquired Shares for investment purposes. Other than the possible exercise of the Warrants, Mr. Lund and his joint actors do not have any present plans or intentions to acquire or dispose of Common Shares, other than through the acquisition of additional Common Shares through his continued participation in the ESOP.
Mr. Lund and his joint actors may, however, increase or decrease their beneficial ownership of, or control over, the Common Shares, directly or indirectly, in the future in the open market, in privately-negotiated purchases or otherwise, depending on, among other things, the Company's business and prospects, market and general economic conditions and other available investment opportunities. Mr. Lund currently expects to continue to purchase Common Shares pursuant to his participation in the ESOP, however he may increase, decrease, or cease such participation at a future date, depending on similar factors.
A copy of the report required to be filed by Mr. Lund pursuant to the early warning requirements of applicable securities laws, once filed on SEDAR, may be obtained from the Chief Financial Officer of the Company at the telephone number set out below.
DCM is a communication solutions partner that adds value for major companies across North America by creating more meaningful connections with their customers. DCM pairs customer insights and thought leadership with cutting edge products, modular enabling technology and services to power its clients' go to market strategies. DCM helps its clients manage how their brands come to life, determine which channels are right for them, manage multimedia campaigns, deploy location specific and 1:1 marketing, execute custom loyalty programs, and fulfill their commercial printing needs all in one place.
DCM's extensive experience has positioned it as an expert at providing communication solutions across many verticals, including the financial, retail, healthcare, consumer health, energy, and not for profit sectors. As a result of its locations throughout Canada and in the United States (Chicago, Illinois and New York, New York), it is able to meet its clients' varying needs with scale, speed, and efficiency – no matter how large or complex the ask. DCM is able to deliver advanced data security, regulatory compliance, and bilingual communications, both in print and/or digital formats.
Additional information relating to DATA Communications Management Corp. is available on www.datacm.com, and in the disclosure documents filed by DATA Communications Management Corp. on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
Certain statements in this press release constitute "forward looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of DCM or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward looking statements. When used in this press release, words such as "may", "would", "could", "will", "expect", "anticipate", "estimate", "believe", "intend", "plan", and other similar expressions are intended to identify forward looking statements. These statements reflect DCM's current views regarding future events and operating performance, are based on information currently available to DCM, and speak only as of the date of this press release. These forward looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees that future performance or results will be achieved. Many factors could cause the actual results, performance, objectives or achievements of DCM to be materially different from any future results, performance, objectives or achievements that may be expressed or implied by such forward looking statements, including the factors discussed elsewhere in this press release and under the headings "Liquidity and capital resources" and "Risks and Uncertainties" in DCM's management's discussion and analysis and other publicly available disclosure documents, as filed by DCM on SEDAR (www.sedar.com).
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, DCM does not intend and does not assume any obligation to update these forward looking statements.
SOURCE DATA Communications Management Corp.
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