David Brereton disposes of Tecsys shares

MONTRÉAL, July 16, 2020 /CNW Telbec/ - Between July 13 and July 16, 2020, David Brereton, Executive Chairman of Tecsys Inc. ("Tecsys") donated or sold (the "Dispositions"), directly and through his holding company, Dabre Inc. ("Dabre"), an aggregate of 127,500 common shares of Tecsys ("Shares"). The Shares sold by Mr. Brereton and Dabre were sold through the facilities of the Toronto Stock Exchange ("TSX") at prices ranging from $29.08 to $31.33 per Share, for aggregate gross proceeds realized from the sale of Shares on TSX of $2,885,319.50.

Since the filing by Mr. Brereton of his last early warning report on June 27, 2017 (the "2017 Report") and prior to the Dispositions, Mr. Brereton, directly and through Dabre, had disposed of an aggregate of 455,000 Shares through donations and sales on the TSX and been granted options (the "Options") to purchase 161,082 Shares pursuant to Tecsys' stock option plan, while Ms. Kathryn Ensign-Brereton disposed of an aggregate of 45,000 Shares through donations and sales on the TSX. Accordingly, immediately prior to the Dispositions, Mr. Brereton beneficially owned, directly and through Dabre, an aggregate of 2,014,638 Shares, and Options to purchase 161,082 Shares, and Ms. Ensign-Brereton beneficially owned 1,029,102 Shares. Together, they beneficially owned an aggregate of 3,043,740 Shares and Options to purchase 161,082 Shares, representing 21.11% of the 14,416,543 issued and outstanding Shares on a non-diluted basis, and 21.98% of the issued and outstanding Shares on a partially-diluted basis, assuming exercise of the Options held by Mr. Brereton only.

Following the Dispositions, Mr. David Brereton beneficially owns an aggregate of 1,887,138 Shares and Options to purchase 161,082 Shares, and Ms. Kathryn Ensign-Brereton beneficially owns 1,029,102 Shares. Together, they beneficially own an aggregate of 2,916,240 Shares and Options to purchase 161,082 Shares, representing 20.23% of the 14,416,543 issued and outstanding Shares on a non-diluted basis, or a decrease of 6.86% since the filing of the 2017 Report, and 21.11% of the issued and outstanding Shares on a partially-diluted basis, assuming exercise of the Options held by Mr. Brereton only.

As Executive Chairman of the board of directors and the largest shareholder of Tecsys, Mr. Brereton is and will continue to be actively involved in Tecsys' business. The Shares beneficially owned by Mr. Brereton and Ms. Ensign-Brereton are held for investment purposes. Each of them intends to review on a continuing basis his or her investment in Tecsys. As set out in his notice of intention to distribute securities filed July 3, 2020, Mr. Brereton intends to sell 22,500 additional Shares, directly and through Dabre, for a total of 120,000 Shares. Either of them may, depending on market and other conditions, increase or decrease his or her beneficial ownership of securities of Tecsys through market transactions, private agreements, public offerings or otherwise.

An early warning report relating to this transaction will be filed on SEDAR under Tecsys' profile at www.sedar.com. To obtain a copy of such report, please contact Ms. Marion Soumagne at [phone].

SOURCE David Brereton

Ms. Marion Soumagne, [phone]