MONTREAL, Dec. 14, 2021 /CNW Telbec/ - 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 The Rossy Foundation, have agreed to sell respectively 550,000 and 1,400,000 common shares of Dollarama in block trades to a financial institution, representing an aggregate of 1,950,000 common shares of Dollarama. In addition, Mr. Neil Rossy, President and Chief Executive Officer of Dollarama, will be donating 340,000 shares to The Rossy Foundation.
As a result of 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 hold personally 1,973,183 common shares (in addition to 444,000 options vested and exercisable), representing, in aggregate, 11,137,085 common shares or approximately 3.7% 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 16, 2021.
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 1,397 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$4.00 (or the equivalent in local currency) in El Salvador, Guatemala, Colombia and Peru through its 312 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.
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