Acadia Ventures Files Early Warning Report With Respect to Subordinate Voting Shares of VerticalScope Holdings Inc.

GEORGE TOWN, Cayman Islands, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Acadia Ventures Ltd. (“Acadia”) has filed on SEDAR+ (www.sedarplus.com) an early warning report with respect to subordinate voting shares (“Subordinate Voting Shares”) of VerticalScope Holdings Inc. (the “Issuer” or “VerticalScope”) held by Acadia.

On February 20, 2025, Acadia disposed of a total of 612,600 Subordinate Voting Shares representing approximately 3.33% of the issued and outstanding Subordinate Voting Shares of VerticalScope. The Subordinate Voting Shares were sold through the facilities of the TSX for aggregate proceeds of $7,817,817.42 (or an average of approximately $12.76 per Subordinate Voting Share). As a result of the disposition, Acadia’s shareholdings decreased to a total of 2,707,400 Subordinate Voting Shares representing 14.7% of the issued and outstanding Subordinate Voting Shares. Immediately prior to the disposition, Acadia owned 3,320,000 Subordinate Voting Shares representing approximately 18.02% of the issued and outstanding Subordinate Voting Shares. Immediately following the disposition, Acadia owned 2,707,400 Subordinate Voting Shares representing 14.7% of the then-issued and outstanding Subordinate Voting Shares.

On February 21, 2025, Acadia further disposed of a total of 130,000 Subordinate Voting Shares representing approximately 0.7% of the issued and outstanding Subordinate Voting Shares of VerticalScope. The Subordinate Voting Shares were sold through the facilities of the TSX for aggregate proceeds of $1,657,500 (or an average of approximately $12.75 per Subordinate Voting Share). As a result of the disposition, Acadia’s shareholdings decreased to a total of 2,577,400 Subordinate Voting Shares representing 13.99% of the issued and outstanding Subordinate Voting Shares. Immediately prior to the disposition, Acadia owned 2,707,400 Subordinate Voting Shares representing 14.7% of the issued and outstanding Subordinate Voting Shares. Immediately following the disposition, Acadia owned 2,577,400 Subordinate Voting Shares representing 13.99% of the issued and outstanding Subordinate Voting Shares.

Acadia holds the Subordinate Voting Shares for investment purposes only and not for the purpose of influencing control or direction over the Issuer. Acadia may further purchase, hold, trade, dispose or otherwise deal in the securities of the Issuer, in such manner as it deems appropriate, including on the open market or through private transactions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

The Issuer is located at 111 Peter Street, Suite 600, Toronto, Ontario M5V 2H1. Acadia is located at Flagship Building, 142 Seafarers Way, PO Box 2428, George Town, Grand Cayman, Cayman Islands, KY1-1105. A copy of this report may be obtained by contacting Rajesh Bavalia at +1.345.938.9731 or RB-avl@proton.me.

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