CEO Plans to Sell Shares in Hammond Power Solutions for Diversification, Estate Planning and Charitable Giving Purposes

CEW 1 HPS 400

September 15, 2021

Hammond Power Solutions Inc. (HPS or the Company) announced today that Chief Executive Officer and Chairman, Mr. Bill Hammond, has filed Form 45-102F1 and intends to sell up to 170,000 Class A Subordinate Voting Shares, directly and indirectly, controlled by him for diversification, estate planning and charitable giving purposes.

Acumen Capital will facilitate the share sale. Following the sale, Mr. Hammond will, directly and indirectly, control 902,220 Class A Subordinate Voting Shares and 2,778,300 Class B Common Shares, representing approximately 59.7% of the voting rights of the Company.

Caution Regarding Forward-Looking Information

This press release contains forward-looking information about a control person’s intention to trade in the Company’s Class A Subordinate Voting Shares. Such forward-looking information can generally be identified by the use of forward-looking wording such as “will”, “expects”, “intends”, “believes” or similar variations. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements due to a number of factors. Readers are cautioned that actual results may vary from the forward-looking information in this press release, and undue reliance should not be placed on such forward-looking information. Material factors and assumptions used to develop the forward-looking information in this press release include the intentions of the control person, estate planning and market conditions. Unless otherwise indicated, the forward-looking statements in this release are based on the parties expectations at the date of this press release. HPS undertakes no obligation to update such forward-looking information or statements, except as required by law. This news release does not constitute an offer to sell or solicitation of an offer to buy any securities described herein.


Related Articles

Changing Scene

  • D.A.D. Sales Announces Bob Holman as New President

    D.A.D. Sales Announces Bob Holman as New President

    D.A.D. Sales is pleased to announce the posting of Bob Holman to President from his previous role as Vice President and Sales Manager. “Bob Holman has always been a leader and mentor to the D.A.D. Sales team, and we value his continued leadership in his new role.” – Bonnie Youngs, Vice President, D.A.D. Sales. Read More…

  • AD Canada LinkedIn Page Now Live

    AD Canada LinkedIn Page Now Live

    AD is thrilled to announce the launch of a new AD Canada LinkedIn page, which serves as the AD Canada community’s dedicated source for the latest news, happenings, updates, and events for AD divisions operating north of the border. AD Canada is elated to have this new line of communication available to connect the Canadian arm of the organization directly to the valued AD Canada community, and the AD Canada team looks forward to helping members and suppliers keep in-the-know. Read More…

Peers & Profiles

  • Schneider Electric, a leader in the digital transformation of energy management and automation, is Canada’s top international corporate citizen in 2022. This designation was awarded to Schneider Electric by Corporate Knights, a media and research company committed to advancing a sustainable economy. Read More…

  • The Sonepar Ontario Region is proud to announce the relocation of their SESCO Central Distribution Centre (CDC) to its new location in Brampton, ON. This move has facilitated an amalgamation between Texcan’s large Brampton branch and SESCO’s CDC, as both businesses work together within one facility for the first time. Read More…