David Brereton disposes of Tecsys shares

MONTRÉAL, Dec. 29, 2020 /CNW Telbec/ - Between December 18 and December 24, 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 300,000 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 $46.50 to $48.65 per Share, for aggregate gross proceeds realized from the sale of Shares on TSX of approximately $9,340,690.

Immediately prior to the Dispositions, Mr. Brereton beneficially owned, directly and through Dabre, an aggregate of 1,812,138 Shares, and options (the "Options") to purchase 161,082 Shares, and Ms. Kathryn Ensign-Brereton beneficially owned 1,029,102 Shares. Together, they beneficially owned an aggregate of 2,841,240 Shares and Options to purchase 161,082 Shares, representing 19.70% of the 14,419,043 issued and outstanding Shares on a non-diluted basis, and 20.59% 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. Brereton beneficially owns, directly and through Dabre, an aggregate of 1,512,138 Shares and Options to purchase 161,082 Shares, and Ms. Ensign-Brereton beneficially owns 1,029,102 Shares. Together, they beneficially own an aggregate of 2,541,240 Shares and Options to purchase 161,082 Shares, representing 17.62% of the 14,419,043 issued and outstanding Shares on a non-diluted basis, and 18.53% 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 and 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