DENVER, Nov. 30, 2018 (GLOBE NEWSWIRE) -- DIXIE BRANDS SPV, LLC (the "Acquiror") announces that on November 27, 2018, it acquired (the "Acquisition"), by way of a reverse takeover transaction, 500,000 non-participating voting shares ("NPV Shares") of Dixie Brands Inc. (CSE:DIXI.U) ("Dixie").
Each NPV Share entitles the Acquiror to 100 votes at any meeting of the shareholders of Dixie.
As of the date hereof, after giving effect to the Acquisition, the Acquiror owns and controls 500,000 NPV Shares representing 100% of the Corporation's issued and outstanding NPV Shares. Prior to the Acquisition, the Acquiror did not own any securities of the Corporation.
The Acquiror acquired the NPV Shares for the purposes of representing the interests of management and senior employees of the Corporation.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will appear at www.sedar.com under Dixie's issuer profile on the System for Electronic Document Analysis and Retrieval.
C.J. Chapman
702-224-6936
cchapman@dixiebrands.com