TORONTO, ONTARIO -- (Marketwired) -- 11/09/17 -- EARLY WARNING REPORT REGARDING DISPOSITION OF SHARES OF CONIFEX TIMBER INC. BY PRINCETON HOLDINGS LIMITED
Item 1 - Security and Reporting Issuer
State the designation of securities to which this report relates
and the name and address of the head office of the issuer of the
securities.
Common shares of Conifex Timber Inc. (TSX: CFF)
Conifex Timber Inc. (the "Reporting Issuer")
980 - 700 West Georgia Street
Vancouver, British Columbia
V7Y 1B6
State the name of the market in which the transaction or other
occurrence that triggered the requirement to file this report took
place.
Toronto Stock Exchange
Item 2 - Identity of the Acquiror
State the name and address of the acquiror.
Princeton Holdings Limited (the "Acquiror")
705 Fountain Street N.
PO BOX 1510
Cambridge, Ontario
N1R 5T2
State the date of the transaction or other occurrence that
triggered the requirement to file this report and briefly describe
the transaction or other occurrence.
The Acquiror disposed of 124,800 common shares of the Reporting
Issuer (the "Securities") on November 7, 2017. As of the date of
this report, the Acquiror's securityholding percentage is 9.25%.
Item 3 - Interest in Securities of the Reporting Issuer
State the designation and number or principal amount of securities
acquired or disposed of that triggered the requirement to file the
report and the change in the acquiror's securityholding percentage
in the class of securities.
This is a closing report of the Acquiror's position of 2,444,500
Securities, representing a securityholding percentage of 9.25%. As
of December 2, 2016, the Acquiror held 2,269,300 Securities,
representing a securityholding percentage of 10.73%. Since that
date, the Acquiror's securityholding percentage has been reduced by
1.48% to below 10%, triggering the requirement to file this report.
State whether the acquiror acquired or disposed ownership of, or
acquired or ceased to have control over, the securities that
triggered the requirement to file the report.
The Acquiror disposed ownership of Securities.
State the designation and number or principal amount of securities
and the acquiror's securityholding percentage in the class of
securities, immediately before and after the transaction or other
occurrence that triggered the requirement to file this report.
Immediately prior to the transaction that triggered the requirement
to file this report, the Acquiror held 2,569,300 Securities,
representing a securityholding percentage of 9.72%. Immediately
after the transaction that triggered the requirement to file this
report, the Acquiror held 2,444,500 Securities representing a
securityholding percentage of 9.25%.
State the designation and number or principal amount of securities
and the acquiror's securityholding percentage in the class of
securities over which the acquiror, either alone or together with
any joint actors, has ownership but control is held by persons or
companies other than the acquiror or any joint actor.
The Acquiror beneficially owns the Securities set forth above, but
control and direction is held by the Investor's discretionary
investment manager, Cowan Asset Management Ltd.
Item 4 - Consideration Paid
State the value, in Canadian dollars, of any consideration paid or
received per security and in total.
The Acquiror received an average price of CAD $4.61 per Security
for the 124,800 Securities sold, for total consideration of CAD
$574,803.84.
Item 5 - Purpose of the Transaction
The Securities are being held for investment purposes only and not
for the purpose of exercising control or direction over the
Reporting Issuer. The disposition was made in the ordinary course
of the Acquiror's business or investment activities. The Acquiror
has no current plan or proposal which relates to, or would result
in acquiring additional ownership or control over the securities of
the Reporting Issuer, other than in the ordinary course of business
of the Acquiror. The Acquiror may or may not purchase or sell
securities of the Reporting Issuer in the future on the open market
or in private transactions, depending on market conditions and
other factors material to the Acquiror's investment decision.
Contacts:
COWAN ASSET MANAGEMENT LTD.
1-844-334-3323
info@cowanasset.com
