TORONTO, July 13, 2017 /CNW/ - Nicholas Galea (the "Vendor") announced
that, between July 5, 2017 and
July 11, 2017, the Vendor sold an
aggregate of 1,109,500 common shares ("Common Shares") of
Sangoma Technologies Corporation (the "Issuer") through the
facilities of the TSX Venture Exchange at prices between
$0.4975 and $0.5576 for aggregate
consideration of $581,598 (the
"Transaction"). Immediately prior to the Transaction, the
Vendor owned 5,658,500 Common Shares. After giving
effect to the Transaction, the Vendor now owns or controls,
directly or indirectly, an aggregate of 4,549,000 Common Shares,
representing approximately 13.6% of the outstanding Common Shares
on a non-diluted basis. The Vendor does not own any
securities of the Issuer other than the foregoing Common
Shares.
The Common Shares sold by the Vendor were acquired for
investment purposes and were sold in connection with the Vendor's
investment objectives. The Vendor reviews its holdings from
time to time and may increase or decrease its position as future
circumstances may dictate. Depending on various factors,
including the financial position of the Vendor and its affiliates,
such as 3CX Ltd., the Vendor may in future take such actions with
respect to its investment in the Issuer as the Vendor deems
appropriate, including, without limitation, seeking board
representation, making proposals to the Issuer regarding changes to
the capitalization, ownership structure, acquisitions or operations
of the Issuer, acquiring additional Common Shares, and/or selling
or otherwise disposing of some or all of its Common Shares.
In addition, the Vendor may formulate other purposes, plans or
proposals regarding the Issuer or any of its securities to the
extent deemed advisable in light of its general investment and
trading decisions, market conditions or other factors that or may
change its intention with respect to any and all of the
foregoing.
This news release is being disseminated as required by National
Instrument 62-103 - The Early Warning System and Related
Take-Over Bids and Insider Reporting Issues in connection with
the anticipated filing of an early warning report (the "Early
Warning Report"). A copy of the Early Warning Report will be
available on SEDAR under the Company's issuer profile
at www.sedar.com and can be obtained by contacting the contact
set out below.
SOURCE Nicholas Galea