TORONTO, March 07, 2018 (GLOBE NEWSWIRE) -- SustainCo Inc. (the “Company” or “SustainCo”) (TSXV:SMS) announces in accordance with the requirements of Section 3.1 of National Instrument 62-103 Skyvest Aviation Inc. ("Skyvest") a company that is controlled by Emlyn David, on March 7, 2018 acquired 2,646,566 common shares (the “Shares”) of SustainCo Inc. Skyvest now owns 8,979,899 Shares of SustainCo, or approximately 56.92% of the current issued and outstanding Shares of SustainCo.
Skyvest acquired 2,646,566 Shares of SustainCo pursuant to private agreements made with five persons. Immediately prior to the acquisition, Emlyn David directly and indirectly controlled 7,768,306 Shares. Subsequent to the transaction Emlyn David directly and indirectly controls 10,414,872 Shares of SustainCo, or approximately 66.01% of the current issued and outstanding Shares of the Company.
Skyvest acquired the Shares for investment purposes and may acquire additional securities or dispose of existing securities of SustainCo in the market or privately, from time to time as circumstances warrant.
A copy of the early warning report filed by Skyvest in connection with this acquisition is available on the SEDAR website at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
About SustainCo Inc.
SustainCo conducts its operations through two wholly-owned subsidiaries, Clean Energy Developments Corp. (“CleanEnergy”) and VCI CONTROLS Inc. (“VCI” or “VCI CONTROLS”).
CleanEnergy is a Canadian industry leading geoexchange company that provides heating and cooling solutions for residential and commercial buildings using energy from the earth. It provides a complete energy solution and is able to provide engineering and design, geo installation, equipment and control systems as well as manage the complete project.
VCI is a leading supplier of building technologies and services that improve comfort, safety, energy efficiency, and occupant productivity. It is an industry leader in the development of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, SustainCo has offices across Canada including, Halifax, Montreal, Pembroke, Ottawa, and Vaughan. For more information, visit www.sustainco.ca.
Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Forward-looking statements, specifically those concerning future performance and other statements that are not historical fact, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the Toronto Stock Exchange (the “Exchange”) and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Trading in the securities of the Company should be considered highly speculative. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
Neither the Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
President, Chief Executive Officer and Chairman