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Gibraltar & Company, Inc. Announces Acquisition of Class B Shares of LXRandCo, Inc.

TORONTO , June 12, 2020 /CNW/ - Gibraltar & Company, Inc. ("GCI"), together with its President and CEO, Mr. Camillo di Prata , announces that pursuant to a non-brokered private placement of LXRandCo, Inc. (the "Corporation"), they have acquired an aggregate of 1,575,429 Class B shares of the Corporation (each a "Class B Share") on May 25, 2020 for a purchase price of $0.175 per Class B Share for aggregate consideration to the Corporation of $275,700 (the "Transaction").

Prior to the completion of the Transaction, GCI owned 1,327,492 Class B Shares, or 4.71% of the then issued and outstanding Class B Shares, Gibraltar Opportunity, Inc. ("GOI") owned 1,961,294 Class B Shares and 280,398 share purchase warrants of the Corporation (each, a "Warrant"), which are exercisable for one Class B Share at a price of $11.50 until June 9, 2022 , or 6.96% of the issued and outstanding Class B Shares, Gibraltar Ventures Fund One Limited Partnership ("Ventures") owned 5,802,714 Class B Shares, or 20.59% of the then issued and outstanding Class B Shares, Gibraltar Brands Inc. ("GBI") owned 625,000 Class B Shares, or 2.22% of the then issued and outstanding Class B Shares and Mr. Camillo di Prata did not own any securities of the Corporation. Prior to the completion of the Transaction, GCI and its affiliates (consisting of GOI, GBI and Ventures) together with Mr. Camillo di Prata owned an aggregate of 9,716,500 Class B Shares, or 34.5% of the then issued and outstanding Class B Shares, and 280,398 Warrants.

Following completion of the Transaction, GCI owns 2,449,778 Class B Shares, or 7.47% of the issued and outstanding Class B Shares, GOI owns 1,961,294 Class B Shares and 280,398 Warrants, or 5.98% of the issued and outstanding Class B Shares, Ventures owns 5,802,714 Class B Shares, or 17.70% of the issued and outstanding Class B Shares, GBI owns 625,000 Class B Shares, or 1.91% of the issued and outstanding Class B Shares and Mr. Camillo di Prata owns 453,143 Class B Shares, or 1.38% of the issued and outstanding Class B Shares. In the aggregate, GCI and its affiliates (consisting of GOI, GBI and Ventures) together with Mr. Camillo di Prata own 11,291,929 Class B Shares and 280,398 Warrants which represent 34.44% of the issued and outstanding Class B Shares following the completion of the Transaction.

GCI and Mr. Camillo di Prata acquired the Class B Shares pursuant to the Transaction for investment purposes. Each of GCI, GBI, Ventures, GOI and Mr. Camillo di Prata , depending on market conditions and other factors, may from time to time acquire additional securities of the Corporation, or dispose of securities of the Corporation in the open market, or by private agreement or otherwise.

All of the calculations of percentages of issued and outstanding Class B Shares in this press release are calculated on a non-diluted basis.

Cautionary Statements 

Certain information contained in this news release may be forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, potential future acquisitions or dispositions of securities of the Corporation by GCI, GBI, GOI, Ventures and Mr. Camillo di Prata . Numerous risks and uncertainties could cause the actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements.

An early warning report with additional information in respect of the foregoing matters will be filed to, and will be available on, the SEDAR profile of LXRandCO, Inc. at www.SEDAR.com.

SOURCE Gibraltar & Company, Inc.


Cision

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