Paul Gaynor Files Early Warning Report

Rhea-AI Summary

Paul Gaynor has increased his holdings in Ciscom Corp through a significant private placement transaction on December 23, 2024. The acquisition involved 3,375,000 units, each comprising one common share and one warrant. Following the transaction, Gaynor's total ownership increased from 21.6% to 29.2% of outstanding shares on a partially diluted basis. Of his total holdings, 16,734,575 shares, options, and warrants are held through Whittaker Inc, a company under his control. The transaction was part of a previously announced private placement from November 12.

Positive

• Increased insider ownership from 21.6% to 29.2%, showing management confidence
• Successful completion of private placement financing

Negative

• Potential stock dilution from warrant exercise
• Single insider controlling nearly 30% of the company could affect stock liquidity

Toronto, Ontario--(Newsfile Corp. - December 24, 2024) - Paul Gaynor announces a transaction involving his holdings in Ciscom Corp. ("Ciscom" or the "Company").

On December 23, 2024, Mr. Gaynor directly acquired 3,375,000 units in Ciscom, each consisting of one common share in the capital of Ciscom (a "Share") and one common share purchase warrant (a "Warrant"), pursuant to the private placement financing of Ciscom announced in a press release by Ciscom on November 12. These 6,750,000 Shares and Warrants represented 11.4% of the then-issued and outstanding Shares on a partially diluted basis. Immediately prior to the acquisition on December 23, 2024, Mr. Gaynor beneficially owned, controlled or directed 11,616,868 Shares and options to purchase Shares, representing 21.6% of the then-issued and outstanding Shares on a partially diluted basis. Immediately following the acquisition, Mr. Gaynor beneficially owned, controlled or directed 18,366,868 Shares, options to purchase Shares, and Warrants representing approximately 29.2% of the issued and outstanding Shares, options to purchase Shares and Warrants on a partially diluted basis. 16,734,575 of these Shares, options to purchase Shares and Warrants are held by Whittaker Inc., a company controlled by Mr. Gaynor.

Mr. Gaynor may, depending on various factors including, without limitation, market and other conditions, increase or decrease his beneficial ownership, control or direction over Shares or other securities of the Company.

For further information, please contact:

Paul Gaynor
Telephone: 416-366-9727

This news release is issued pursuant to the early warning requirements of applicable securities laws. A copy of the Early Warning Report will appear on Ciscom Corp.'s profile on the SEDAR+ website at www.sedarplus.ca. A copy of the Early Warning Report may also be obtained by contacting Paul Gaynor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235070

FAQ

How many shares did Paul Gaynor acquire in Ciscom Corp (CISCF) on December 23, 2024?

Paul Gaynor acquired 3,375,000 units, each consisting of one common share and one warrant, totaling 6,750,000 securities when counting both shares and warrants.

What is Paul Gaynor's total ownership percentage in Ciscom Corp (CISCF) after the December 2024 acquisition?

After the acquisition, Paul Gaynor's ownership reached approximately 29.2% of Ciscom Corp's issued and outstanding shares on a partially diluted basis.

How many Ciscom Corp (CISCF) shares are held through Whittaker Inc?

16,734,575 shares, options to purchase shares, and warrants are held through Whittaker Inc, a company controlled by Paul Gaynor.

What was Paul Gaynor's ownership percentage in Ciscom Corp (CISCF) before the December 2024 transaction?

Prior to the acquisition, Paul Gaynor owned 21.6% of the then-issued and outstanding shares on a partially diluted basis.