TORONTO, Nov. 23, 2020 /PRNewswire/ - Stan Dunford announced that he disposed of 2,000,000 of his 7,216,124 common shares of Akumin Inc. ("Akumin") today to long term institutional investors. 700,000 of the securities traded through the facilities of the NASDAQ for USD$3.30 per share and aggregate sale proceeds of USD$2,310,000. The balance of 1,300,000 traded through the facilities of the Toronto Stock Exchange for CAD$4.33 per share and aggregate sale proceeds of CAD$5,629,000. Akumin's shares are listed on the NASDAQ in USD and the Toronto Stock Exchange in CAD, both under the symbol "AKU".
Mr. Dunford originally acquired his interest in Akumin in 2014 and has completed the disposition for personal tax and estate planning purposes. Mr. Dunford is 71 years of age and is a director and chairman of Akumin's board of directors. Mr. Dunford has no intention to acquire or dispose of additional securities of Akumin.
The shares sold represent approximately 2.85% of the presently issued and outstanding common shares of Akumin. Immediately prior to the disposition, Mr. Dunford owned or controlled 7,216,124 common shares of Akumin representing approximately 10.28% of the then issued and outstanding common shares of Akumin. This disposition decreases Mr. Dunford's position in the common shares of Akumin to 5,216,124 common shares, or approximately 7.43% of the presently issued and outstanding common shares of Akumin.
In connection with this news release, an early warning report will be filed by Mr. Dunford in accordance with applicable Canadian securities laws. A copy of that filing will be available on SEDAR at www.sedar.com. Copies and further information may also be obtained from Mr. Dunford at: 329 Line 8 South, Oro-Medonte, L0L 2EO, telephone 416 659 7826.
Akumin's U.S. head office is located at 8300 W. Sunrise Blvd., Plantation, FL 33322 and its Canadian head office is located at 151 Bloor Street West, Suite 603, Toronto, ON M5S 1S4.
SOURCE Stan Dunford