TORONTO, Jan. 06, 2020 (GLOBE NEWSWIRE) -- KST Industries Inc. (“KST”) announces that, further to the closing on January 6, 2020 by DATA Communications Management Corp. (the “Company”)(TSX: DCM) of the rights offering transaction announced by the Company on November 27, 2019 (the “Transaction”), it acquired ownership of an aggregate of 3,148,718 commons shares (the “Purchased Shares”) in the capital of the Company at a price of $0.23 per share for an aggregate purchase price of $724,205.14.
Prior to the acquisition of the Purchased Shares, KST owned 2,000,878 common shares in the capital of the Company (each, a “Common Share”) representing approximately 9.30% of the issued and outstanding Common Shares.
Pursuant to the Transaction, KST acquired an aggregate of 3,148,718 Purchased Shares at a price of $0.23 per share. Following completion of the Transaction, KST now owns 5,149,596 Common Shares representing approximately 11.96% of the issued and outstanding Common Shares.
KST acquired the Purchased Shares for investment purposes. KST may increase or decrease its ownership of Common Shares from time to time depending on, among other things, the Company’s business and prospects, future market conditions, and factors related to KST’s business.
For more information and to obtain a copy of the early warning report required by securities legislation and filed on SEDAR under the Company’s company profile at www.sedar.com, please contact:
Harinder S. Takhar, Chairman of KST Industries Inc.
6400 Northam Drive
Mississauga, Ontario. L4V 1J1
Telephone: 905-362-6400