VANCOUVER, May 21, 2020 /CNW/ – Sandpiper Group (“Sandpiper”) announced today that on May 21, 2020 it acquired, through Sandpiper Real Estate Fund 2 Limited Partnership (“SREF2LP“), an aggregate of 25,000 shares (“Shares”) of Extendicare Inc. (“Extendicare” or the “Company”)(TSX:EXE) in the open market through the facilities of the Toronto Stock Exchange at an average price of $5.94 per Share or $148,500 in the aggregate (the “Acquisition”).
As a result of the Acquisition, Sandpiper owns and exercises control and direction over an aggregate of 8,964,476 Shares, representing approximately 10.01% of the 89,510,500 issued and outstanding Shares (as reported in Extendicare’s management’s discussion and analysis dated May 14, 2020). Prior to the Acquisition, Sandpiper owned and exercised control and direction over 8,939,476 Shares, representing approximately 9.99% of the issued and outstanding Shares.
The Shares were acquired for investment purposes. Sandpiper believes that the Shares of Extendicare are undervalued and represent an attractive investment opportunity.
“We are pleased to increase our ownership stake in one of Canada’s leading seniors care providers,” said Samir Manji, CEO, Sandpiper Group. “Extendicare has a storied history, strong platform comprised of multiple lines of businesses, and a strong future. Everyone in the organization has been working extremely hard to navigate through the current pandemic with a focus on the health, safety and well-being of Extendicare’s residents and employees. We believe the current share price is not reflective of the underlying value and future potential of the Company. As a significant shareholder, we look forward to continuing to support the board of directors and management team in executing on the Company’s strategy and opportunities ahead.”
Sandpiper and its affiliates may, from time to time, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over the securities of Extendicare through market transactions, private agreements, or otherwise.
Extendicare’s head office is located at 3000 Steeles Ave. East, Suite 103, Markham, Ontario, L3R 4T9.
Sandpiper’s head office is Suite 1670, 200 Burrard Street, Vancouver, British Columbia, V6C 3L6.
An early warning report will be filed by Sandpiper in accordance will applicable securities laws. For further information and to obtain a copy of the early warning report filed by Sandpiper, please contact Alyssa Barry, Vice President, Capital Markets and Communications, Sandpiper Group at (604) 558-4885.
ABOUT SANDPIPER GROUP
Sandpiper is a Vancouver-based private equity firm focused on investing in real estate through direct property investments and public securities. For more information about Sandpiper, visit www.sandpipergroup.ca.
SOURCE Sandpiper Group
For further information: Alyssa Barry, Vice President, Capital Markets and Communications, Sandpiper Group, Phone: 604-558-4885, Email: [email protected]
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
