MONTREAL, Sept. 18, 2019 /PRNewswire/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corporation") announced today that two insiders, namely GRI Investments Inc., a private corporation controlled by the Rossy family, and Neil Rossy, President and Chief Executive Officer of the Corporation, have agreed to sell, in aggregate, 2,054,164 common shares of Dollarama.
GRI Investments Inc. and Neil Rossy agreed to sell respectively 1,415,233 and 638,931 common shares of Dollarama in block trades to a financial institution. Once the trades are settled, GRI Investments Inc. will hold 6,068,021 common shares and Neil Rossy will personally hold 2,576,748 common shares (in addition to 1,032,000 options vested and exercisable), representing approximately 1.9% and 0.8% of the Corporation's total number of common shares issued and outstanding, respectively.
The decision to sell a portion of their respective holdings in Dollarama was made for financial diversification purposes. Trades are expected to close on or about September 20, 2019.
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 1,250 locations across Canada provide customers with compelling value in convenient locations, including metropolitan areas, mid-sized cities and small towns. Select consumable and general merchandise 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) through its 192 conveniently-located stores in Colombia, El Salvador and Guatemala.
SOURCE Dollarama Inc.