Sale of Shares By Dollarama Insiders
MONTREAL , Dec. 11, 2020 /PRNewswire/ - Dollarama Inc. (TSX:DOL.TO) ("Dollarama" or the "Corporation") announced today that two insiders, namely GRI Investments Inc., a private corporation controlled by the Rossy family, and The Rossy Foundation, have agreed to sell respectively 875,000 and 1,625,000 common shares of Dollarama in block trades to a financial institution, representing an aggregate of 2,500,000 common shares of Dollarama.
Once the trades are settled, GRI Investments Inc. will hold 4,264,614 common shares and The Rossy Foundation will hold 7,959,723 common shares, representing, in aggregate, 12,224,337 common shares or approximately 3.9% of the Corporation's total number of common shares issued and outstanding.
Proceeds from the sale of shares by The Rossy Foundation will be used to fund existing commitments to charitable organizations. The decision by GRI Investments Inc. to sell a portion of its holdings in Dollarama was made for financial diversification purposes. Trades are expected to close on or about December 15, 2020.
Dollarama is a recognized Canadian value retailer offering a broad assortment of consumable products, general merchandise and seasonal items both in-store and online. Our 1,333 locations across Canada provide customers with compelling value in convenient locations, including metropolitan areas, mid-sized cities and small towns. Select products are also available, by the full case only, through our online store at www.dollarama.com . Our quality merchandise is sold at select, fixed price points up to $4.00 .
Dollarama also owns a 50.1% interest in Dollarcity, a growing Latin American value retailer. Dollarcity offers a broad assortment of consumable products, general merchandise and seasonal items at select, fixed price points up to US$3.00 (or the equivalent in local currency) in El Salvador and Guatemala and up to the equivalent of US$4.00 in local currency in Colombia through its 240 conveniently-located stores.
About The Rossy Foundation
The Rossy Foundation is a Montreal -based private foundation that was established in 2004. Its mission is to contribute to civil society and to improve the lives of Canadians with a focus on cancer care, mental health, civic engagement, education and the arts. It is committed to supporting the vibrancy of Montreal and also funds charitable organizations across Canada and internationally within its areas of focus.
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SOURCE Dollarama Inc.