All values are in Canadian dollars unless otherwise indicated.

TORONTO, July 31, 2015 /CNW/ – Each of Mr. Anthony Melman and Ms. Belinda Stronach confirm that, in connection with the $350,000,000 initial public offering (the “Offering“) of Class A restricted voting units (“Class A Restricted Voting Units“) of Acasta Enterprises Inc. (the “Corporation“), assuming the separation of the Class B units of the Corporation (the “Class B Units“), each of Mr. Melman and Ms. Stronach now, directly or indirectly, own: (i) 2,661,130 Class B shares of the Corporation (“Class B Shares“), and (ii) 157,303 share purchase warrants (“Warrants“). As of the date hereof, each of their holdings represents approximately 22.5% of the issued and outstanding Class B Shares and approximately 5.8% of the issued and outstanding Class A restricted voting shares of the Corporation (“Class A Restricted Voting Shares“) and Class B Shares, assuming no forfeiture of any of their Founders Shares (as defined below) or any acquisition of additional Class B Units depending on the extent to which the over-allotment option granted to the underwriters pursuant to the Offering (“Over-Allotment Option“) is exercised.

Mr. Melman and Ms. Stronach purchased securities of the Corporation as follows:

• Concurrent with closing of the Offering, each purchased 314,606 Class B Units, at a purchase price of $10.00 per Class B Unit. Each Class B Unit consists of one Class B share and one-half of a Warrant (which are not exercisable until 30 days after the completion of a qualifying acquisition).
• Prior to closing of the Offering, each purchased 2,346,524 Class B Shares (the “Founders’ Shares“), in a private placement for approximately $0.0024 per Founders’ Share or $0.0027 if the Over-Allotment Option is not exercised. Up to 301,580 of each of Mr. Melman’s and Ms. Stronach’s Founders’ Shares are subject to forfeiture without compensation depending on the extent to which the Over-Allotment Option is exercised. For further details, see the Corporation’s final prospectus dated July 22, 2015 (the “Final Prospectus“).

Mr. Melman and Ms. Stronach each acquired their Founders’ Shares and Class B Units (which include the Class B Shares and Warrants underlying the Class B Units) for investment purposes. Mr. Melman and Ms. Stronach are restricted from selling their Class B Shares and Warrants as described in the Final Prospectus. In addition to acquiring additional Class B Units if the OverAllotment Option is exercised in full, Mr. Melman and Ms. Stronach may purchase and/or sell any Class A Restricted Voting Units, Class A Restricted Voting Shares and/or Warrants from time to time, subject to applicable law. In connection with the Offering, each of Mr. Melman and Ms. Stronach entered into certain material agreements, all as described in the Final Prospectus.

SOURCE Acasta Enterprises Inc.