TD Waterhouse Canada Inc. - Historical Holdings in TeraGo Inc.

TORONTO, Jan. 21, 2020 /CNW/ - This release is being made by TD Waterhouse Canada Inc. ("TD Waterhouse") to report historical information concerning holdings in TeraGo Inc. (the "Issuer").

As of July 18, 2018, TD Waterhouse acquired control and direction over 1,622,283 common shares (the "Shares") of the Issuer on behalf of its managed accounts ("First Reportable Event"). As a result of this acquisition of Shares, as at July 18, 2018, TD Waterhouse may be considered, under Canadian securities laws, to have had control and direction over 1,622,283 Shares of the Issuer on behalf of managed accounts, which constituted approximately 10.32% of the issued and outstanding Shares of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

Subsequently, between July 19, 2018 and August 23, 2018, TD Waterhouse acquired control and direction over 365,781 Shares of the Issuer on behalf of its managed accounts ("Second Reportable Event"). As a result of this acquisition of Shares, as at August 23, 2018, TD Waterhouse may be considered, under Canadian securities laws, to have had control and direction over 1,988,064 Shares of the Issuer on behalf of managed accounts, which constituted approximately 12.65% of the issued and outstanding Shares of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

Between August 24, 2018 and October 10, 2018, TD Waterhouse acquired control and direction over 457,804 Shares of the Issuer on behalf of its managed accounts ("Third Reportable Event"). As a result of this acquisition of Shares, as at October 10, 2018, TD Waterhouse may be considered, under Canadian securities laws, to have had control and direction over 2,445,868 Shares of the Issuer on behalf of managed accounts, which constituted approximately 15.54% of the issued and outstanding Shares of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

Subsequently, between October 11, 2018 and March 7, 2019, TD Waterhouse acquired control and direction over 343,080 Shares of the Issuer on behalf of its managed accounts ("Fourth Reportable Event"). As a result of this acquisition of Shares, as at March 7, 2019, TD Waterhouse may be considered, under Canadian securities laws, to have had control and direction over 2,788,948 Shares of the Issuer on behalf of managed accounts, which constituted approximately 17.69% of the issued and outstanding Shares of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

Between March 8, 2019 and December 18, 2019, TD Waterhouse acquired control and direction over 854,510 Shares of the Issuer on behalf of its managed accounts ("Fifth Reportable Event"). As a result of this acquisition of Shares, as at December 18, 2019, TD Waterhouse may be considered, under Canadian securities laws, to have had control and direction over 3,643,458 Shares of the Issuer on behalf of managed accounts, which constituted approximately 21.92% of the issued and outstanding Shares of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

For the periods that TD Waterhouse may be considered, under Canadian securities laws, to have had control and direction over 10% or more of the Shares of the Issuer as described herein (the "Relevant Periods"), the securities that are subject of this release were purchased for, and were held for, investment purposes only and not for the purpose of exercising control or direction over the Issuer. The purchases were made in the ordinary course of TD Waterhouse's investment activities on behalf of clients holding managed accounts in respect of which TD Waterhouse acts as a portfolio manager. During the Relevant Periods, TD Waterhouse did not have any plan or proposal which related to, or would have resulted in acquiring additional ownership or control over the securities of the Issuer, other than in the ordinary course of business of TD Waterhouse. During the Relevant Periods, TD Waterhouse's decisions as to whether to purchase or sell securities of the Issuer were dependent on market conditions and other factors material to the investment decision.

TD Waterhouse at no time intended to acquire a 20% or greater equity interest in the Issuer and only did so inadvertently. TD Waterhouse, subject to regulatory approval, intends to reduce its holdings in the Shares to under 20% including, subject to market conditions, through secondary market trading on the Toronto Stock Exchange.

The filing of this release is not an admission that any entity named in this release owns or controls any securities described in this release or is a joint actor with another named entity.

For more information, or for a copy of the report filed under applicable securities laws by TD Waterhouse in connection with the transactions referred to in this press release, please contact: Derek Kirk, Corporate & Public Affairs, TD Bank Group at [email protected]

The address of TD Waterhouse is: 66 Wellington Street West, TD Tower, 12th Floor, P.O. Box 1, Toronto Dominion Centre, Toronto, ON M5K 1A2.

SOURCE TD Waterhouse Canada Inc.