David Brereton donates Tecsys shares

MONTRÉAL, Dec. 16, 2022 /CNW/ - On December 16, 2022, David Brereton, Executive Chairman of Tecsys Inc. ("Tecsys") donated (the "Donation") an aggregate of 50,000 common shares of Tecsys ("Shares").

Immediately prior to the Donation, Mr. Brereton beneficially owned, directly and through his holding company, Dabre Inc. ("Dabre"), an aggregate of 1,262,138 Shares, and options (the "Options") to purchase 201,375 Shares, and Ms. Kathryn Ensign-Brereton beneficially owned 1,029,102 Shares. Together, they beneficially owned an aggregate of 2,291,240 Shares and Options to purchase 201,375 Shares, representing 15.73% of the 14,568,894 issued and outstanding Shares on a non-diluted basis, and 16.88% of the issued and outstanding Shares on a partially-diluted basis, assuming exercise of the Options held by Mr. Brereton only.

Following the Donation, Mr. Brereton beneficially owns, directly and through Dabre, an aggregate of 1,212,138 Shares and Options to purchase 201,375 Shares, and Ms. Ensign-Brereton beneficially owns 1,029,102 Shares. Together, they beneficially own an aggregate of 2,241,240 Shares and Options to purchase 201,375 Shares, representing 15.38% of the 14,568,894 issued and outstanding Shares on a non-diluted basis, and 16.54% 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. Sandra Spackman at [phone].

SOURCE David Brereton