Kevin Douglas Announces Acquisition of Additional Common Shares of Westport Fuel Systems Inc.
LARKSPUR, CA, June 13, 2016 /CNW/ - Kevin Douglas of 125 E. Sir Francis Drake Blvd., Suite 400, Larkspur, California, 94939, has announced today that he acquired through and on behalf of K&M Douglas Trust, Douglas Family Trust, James E. Douglas III, and Douglas Irrevocable Descendants Trust, all of 125 E. Sir Francis Drake Blvd., Suite 400, Larkspur, California, 94939, control and direction over 6,613,749 common shares (the "Acquired Shares") of Westport Fuel Systems Inc. (the "Company"), representing approximately 6.06% of the issued and outstanding common shares in the capital of the Company (the "Common Shares").
Prior to the acquisition of the Acquired Shares, Kevin Douglas, through and on behalf of K&M Douglas Trust, Douglas Family Trust, James E. Douglas III, and Douglas Irrevocable Descendants Trust had control and direction over 10,098,559 Common Shares, representing approximately 9.25% of the issued and outstanding Common Shares. Following the acquisition of the Acquired Shares, Kevin Douglas, through and on behalf of K&M Douglas Trust, Douglas Family Trust, James E. Douglas III, and Douglas Irrevocable Descendants Trust, controls and has direction over, directly or indirectly, 16,712,308 Common Shares, representing approximately 15.31% of the current issued and outstanding Common Shares.
The Acquired Shares were acquired pursuant to the completion of a merger between Westport Innovations Inc. and Fuel Systems Solutions, Inc. to form the Company on June 1, 2016. K&M Douglas Trust, Douglas Family Trust, and Douglas Irrevocable Descendants Trust are family trusts organized under the laws of the State of California and conducting ordinary investment activities. The head office of the Company is located at 101 – 1750 West 75th Avenue, Vancouver, British Columbia, V6P 6G2.
The Acquired Shares were acquired for investment purposes in the ordinary course of the entities' investment activities. Kevin Douglas, through and on behalf of K&M Douglas Trust, Douglas Family Trust, James E. Douglas III, and Douglas Irrevocable Descendants Trust, may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company.
SOURCE Kevin Douglas
To obtain a copy of the report, contact: Tim McGaw at (415) 526-2202 or [email protected].
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