IKO Enterprises Ltd. announces acquisition of common shares of Strongco Corporation

TORONTO, Nov. 26, 2014 /CNW/ - IKO Enterprises Ltd. ("IKO") announced that on November 26, 2014, it acquired beneficial ownership of 495,300 common shares ("Common Shares") of Strongco Corporation representing approximately 3.7% of the issued and outstanding Common Shares through the facilities of the Toronto Stock Exchange, at a price per share of $2.40.  Following the acquisition, IKO has beneficial ownership of 1,545,912 Common Shares representing approximately 11.7% of the issued and outstanding Common Shares.  Saul Koschitzky has control and direction over the Common Shares beneficially owned by IKO.  Mr. Koschitzky together with Henry Koschitzky, Mira Koschitzky and Julia Koschitzky may be considered joint actors of IKO in connection with the foregoing acquisition.  IKO, together with its joint actors, has ownership and control over 1,761,394 Common Shares representing approximately 13.3% of the issued and outstanding Common Shares.

The Common Shares were acquired for investment purposes.  Depending on various factors, IKO may acquire additional Common Shares or dispose of Common Shares from time to time.

SOURCE: IKO Enterprises Ltd.

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