MONTREAL, December 14, 2021 / PRNewswire / – Dollarama Inc. (TSX: DOL) (“Dollarama” or the “Company”) today announced that two insiders, namely GRI Investments Inc., a private company controlled by the Rossy family, and the Foundation Rossy, have agreed to sell 550,000 and 1,400,000 common shares of Dollarama en bloc to a financial institution, respectively, for a total of 1,950,000 common shares of Dollarama. In addition, Mr. Neil rossy, President and CEO of Dollarama, will donate 340,000 shares to the Rossy Foundation.
Following the sales and donation, The Rossy Foundation will hold 6,067,657 common shares of Dollarama, GRI Investments Inc. will hold 3,096,245 common shares and Neil rossy will personally hold 1,973,183 ordinary shares (in addition to the 444,000 options vested and exercisable), representing, in total, 11,137,085 ordinary shares or approximately 3.7% of the total number of issued and outstanding ordinary shares of the Society.
The proceeds from the sale of shares by the Rossy Foundation will be used to finance existing commitments to charitable organizations. The decision by GRI Investments Inc. to sell part of its holdings in Dollarama was taken for the purpose of financial diversification. Transactions are expected to close on or around December 16, 2021.
Dollarama is a recognized Canadian retailer offering a wide assortment of consumables, general merchandise and seasonal items in store and online. Our 1,397 branches across Canada providing customers with compelling value in convenient locations including metropolitan areas, mid-size cities and small towns. Certain products are also available, by full case only, in our online store at www.dollarama.com. Our quality merchandise is sold at selected fixed prices up to $ 4.00.
Dollarama also owns a 50.1% stake in Dollarcity, a growing Latin American retailer. Dollarcity offers a wide assortment of consumables, general merchandise and seasonal items at selected fixed prices up to US $ 4.00 (or the equivalent in local currency) in El Salvador, Guatemala, Colombia and Peru thanks to its 312 conveniently located stores.
About the Rossy Foundation
The Rossy Foundation is a MontrealPrivate foundation founded in 2004. Its mission is to contribute to civil society and 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 dynamism of Montreal and also funds charitable organizations through Canada and internationally in its areas of intervention.
SOURCE Dollarama inc.