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Properly Investment Company Ltd. and Spur Point Capital Inc. Early Warning Report
Internal corporate restructuring of a 16.7% blockholder stake; no operational or strategic change.

Executive Summary
- Properly Investment Company Ltd. transfers its entire 16.68% stake (1,599,691 shares) to its wholly-owned subsidiary, Spur Point Capital Inc.
- Private transaction executed outside any securities market for CAD$7,036,366 (~$4.399/share, reflecting original cost basis).
- Control remains with Mark Vendramin; investment intent and beneficial ownership are unchanged.
- Regulatory filings submitted to SedarPlus.ca.
Material Impact
- The news is a purely administrative internal transfer of a blockholder stake between related parties. It has zero material impact on operations, cash flows, governance, or the investment thesis. The market's +9.6% run into the print was driven by Q1 earnings beat and debt reduction, not this transfer. The rating is Routine - Neutral.
SWP · Price
Company Overview
- Swiss Water Decaffeinated Coffee Inc. operates a proprietary, chemical-free decaffeination process for coffee beans. It sells decaffeinated green coffee to major roasters and retailers globally, leveraging its brand recognition and sustainable processing method.
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May 06, 2026 · 16:49