TORONTO,
June 14, 2013 /CNW/ - Edgefront
Realty Corp. ("Edgefront") today announced that Kelly C. Hanczyk of Toronto, its President and Chief Executive
Officer and a director, has privately acquired 3,300,000 common
shares (or approximately 6.0% of the outstanding Edgefront shares)
(including 270,000 escrowed common shares and 30,000 common shares
acquired from a seed capital investor at such investor's
initial subscription cost), and as a result, now owns 6,800,000
common shares (or approximately 12.4% of the outstanding Edgefront
shares). In a separate transaction, Ted Manziaris of
Toronto, an Edgefront director,
has privately acquired 300,000 common shares (or approximately 0.5%
of the outstanding Edgefront shares), consisting of 270,000
escrowed common shares and 30,000 common shares, from another seed
capital investor at such investor's initial subscription cost, and
as a result, now owns 7,800,000 common shares (or approximately
14.2% of the outstanding Edgefront shares). As a result of
these share transfers, the number of seed capital investors who
owns escrowed Edgefront shares have been reduced from nine persons
to seven persons and such investors now consist of Kelly C. Hanczyk, Robert
P. Chiasson, Mario Forgione,
Ted Manziaris, Peter M. Vukanovich,
Leslie Johnson and Jim Dedes.
The common shares were acquired for investment
purposes and each of Messrs. Hanczyk and Manziaris (who are not
acting jointly or in concert with each other) may from time to time
increase or decrease his holdings of common shares of Edgefront,
depending on market and other conditions. Copies of the
early warning reports being filed by Messrs. Hanczyk and Manziaris
with the applicable securities regulators will be available on
SEDAR (www.sedar.com).
About Edgefront
Edgefront is a growth oriented, diversified real
estate company focused on increasing shareholder value through the
acquisition, ownership and management of commercial real estate
assets initially located in secondary markets. It is the intention
of Edgefront to expand its business of purchasing, owning and
operating real estate assets and to raise funds in the marketplace
in order to convert Edgefront into a real estate investment trust
having an external asset management structure, subject to receipt
of all necessary approvals, including that of the TSXV.
SOURCE Edgefront Realty Corp.