PIERRE ALEXANDRE COMPLETES SALE OF SHARES OF ORBIT GARANT DRILLING INC.
̶ Mr. Alexandre remains Orbit Garant's largest shareholder with approximately 21% equity interest ̶
VAL-D'OR, QC, March 21, 2025 /CNW/ - On March 19, 2025, 6705570 Canada Inc. ("670") a company owned and controlled by Pierre Alexandre completed a series of transactions through the facilities of the Toronto Stock Exchange and various alternative trading systems pursuant to which 670 sold an aggregate of 1,000,000 common shares (the "Shares") of Orbit Garant Drilling Inc. (TSX: OGD) ("Orbit Garant" or the "Company"). Mr. Alexandre is an Executive Vice President and Director of Orbit Garant. 670 had previously filed a Notice of Intention to Distribute Securities (Form 45-102F1) under the Company's SEDAR+ profile at www.sedarplus.ca in respect of the sale of up to 1,000,000 common shares of the Company representing 2.7% of the issued and outstanding common shares of the Company.
The Shares were sold for personal financial planning purposes. Prior to the sale of the Shares, Pierre Alexandre beneficially owned and controlled 8,863,530 common shares of the Company (including 8,729,675 common shares owned by 670) representing approximately 23.7% of the Company's outstanding common shares. The Shares were sold at prices ranging from $1.06 per Share to $1.19 per Share resulting in gross proceeds of $1,082,221. Following the sale, Mr. Alexandre remains the largest shareholder of Orbit Garant, controlling 7,863,530 common shares, representing approximately 21% of the Company's outstanding common shares. Mr. Alexandre has no plans for further sales of common shares at this time.
An early warning report has been filed by 670 under the Company's SEDAR+ profile at www.sedarplus.ca.
For further information:
For further information, regarding the early warning report, including a copy of same (which is available under Orbit Garant's SEDAR profile at www.sedarplus.ca), please contact:
Daniel Maheu
President and Chief Executive Officer
(819) 824-2707 ext. 124
Bruce Wigle
Investor Relations
(647) 496-7856
Orbit Garant's head office is located at 3200 Jean-Jacques Cossette Blvd., Val-D'Or, QC, J9P 6Y6
SOURCE 6705570 Canada Inc.