Date Closed

May 25, 2023

Lead Office

Toronto

Value

26.00 Million CAD

On May 25, 2023, DATA Communications Management Corp. (“DCM” or the “Company”) has completed its previously announced private placement (the “Offering”) of common shares of the Company (“Common Shares”). Upon closing of the Offering, the Company issued 8,707,200 Common Shares at a price per share of $3.00 for gross proceeds of C$26,121,600.

The Offering was led by Clarus Securities Inc., on behalf of a syndicate of agents that included Acumen Capital Finance Partners Limited and Canaccord Genuity Corp. (collectively, the “Agents”), and included the issuance of 373,867 Common Shares upon the exercise of the Agents’ over-allotment option, on the same terms and conditions as the Offering. In connection with the Offering, the Company issued to the Agents broker warrants entitling the Agents to acquire, in the aggregate, up to 261,216 Common Shares at a price of $3.1627 per share for a period of two years following the closing of the Offering.

DCM is a marketing and business communications partner that helps companies simplify the complex ways they communicate and operate, so they can accomplish more with fewer steps and less effort.

McCarthy Tétrault assisted DCM with a team led by Jonathan Grant and Michael Eldridge that included Victoria de Luna, Mitchell Lui, Andrew Parker, Shauvik Shah, Nicole Shapero, Trena Gallant, Shayla Hamilton, Sharon Kretchmar, Adil Akbar, Stephen Carbonaro (Business), Alfred Macchione (Intellectual Properties), John Boscariol (Trade), Stephanie Dewey, Patrick McCay (Tax) and Lauren Fishman (MT3).