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Early Warning Press Release - Hylton Karon Announces Disposition of Common Shares of iFabric Corp.
IFA · Price
Executive Summary
- Hylton Karon disposed of 1,210,935 common shares of iFabric Corp. at $3.70 per share, generating total proceeds of CAD$4,480,459.50.
- The transaction reduced Karon's ownership stake from approximately 63.1% to 49.3% on a partially diluted basis, representing a 13.8% decrease in his holdings.
- The disposition was executed for personal financial reasons, with an Early Warning Report subsequently filed on Sedar+.
Key Details
- Reporting Person: Hylton Karon
- Shares Disposed: 1,210,935 common shares
- Price per Share: $3.70 CAD
- Total Consideration: CAD$4,480,459.50
- Pre-Disposition Holdings: 19,047,285 common shares + 200,000 options (~63.1% partially diluted)
- Post-Disposition Holdings: 17,836,350 common shares + 200,000 options (~49.3% partially diluted)
- Ownership Decrease: ~13.8% on a partially diluted basis
- Reason for Disposition: Personal financial reasons
- Regulatory Filing: Early Warning Report filed on www.sedarplus.ca
- Issuer: iFabric Corp. (TSX: IFA)
- Issuer Head Office: 525 Denison Street, Unit 1, Markham, Ontario L3R 2A2
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