The Wesana Health Holdings Inc (OTCMKTS:WSNAF) was in focus yesterday among investors after the company made an announcement and it ended the day with gains of as much as 4%.
Yesterday, the company provided a corporate update with regards to the fact that its executive chairman Chad Bronstein submitted an early warning report under the provisions of National Instrument 62-104. The provisions are related to “Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues”. This filing was actually related to the conversion of a total of 3900 multiple voting shares from the issuer to 195000 subordinate voting shares.
After the aforementioned conversion had been accomplished, the one who reported held a total of 35100 multiple voting shares. Those multiple voting shares make up as many as 28.1% of the outstanding and issued multiple voting shares in the company.
On the other hand, the 195000 subordinate voting shares make up 1.5% of the outstanding subordinate voting shares in Wesana Health. The announcement from the company yesterday seems to have been welcomed by the investors and it now remains to be seen if the Wesana stock can manage to hold on to its momentum in the coming days.