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MONTREAL, June 20, 2025 (GLOBE NEWSWIRE) — Jane Silverstone Segal, Chair of the Board of Directors of DAVIDsTEA Inc. (“DAVIDsTEA”) (TSXV: DTEA), announces that on June 20, 2025, she received shares of Rainy Day Investments Ltd. (“RDI”) by way of bequest from her late husband Mr. Herschel Segal, as a result of which Jane Silverstone Segal has voting control of RDI. RDI owns 12,012,538 common shares of DAVIDsTEA, representing 44.51% of DAVIDsTEA’s issued and outstanding common shares, which shares are now controlled by Jane Silverstone Segal.
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Immediately prior to the transfer of shares described above, Jane Silverstone Segal held 127,087 common shares of DAVIDsTEA, representing 0.47% of its 26,985,738 issued and outstanding common shares.
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Immediately after the transfer of shares described above, Mrs. Segal holds or exercises control, directly or indirectly, over 12,139,625 common shares, representing 44.99% of DAVIDsTEA’s issued and outstanding common shares.
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As a result of the transfer of shares described above, Mrs. Segal’s holdings of DAVIDsTEA’s common shares increased to 44.99% from 0.47%.
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The late Mr. Herschel Segal also held 1,523 common shares of DAVIDsTEA directly, representing 0.006% of the issued and outstanding shares. The 1,523 shares will be transferred to Jane Silverstone Segal by way of bequest in due course, following which she will hold or exercise control, directly or indirectly, over 12,141,148 common shares, representing 44.99% of DAVIDsTEA’s issued and outstanding common shares.
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In accordance with applicable securities laws, Mrs. Segal may, from time to time and at any time, acquire additional DAVIDsTEA shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of DAVIDsTEA in the open market or otherwise, and Mrs. Segal reserves the right to dispose of any or all of her Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the DAVIDsTEA and other relevant factors.
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A copy of an early warning report filed by Jane Silverstone Segal in connection with the transfer described above is available on SEDAR+ under DAVIDsTEA’s profile. This news release is issued under the early warning provisions of Canadian securities legislation.
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To obtain a copy of the early warning report filed by Jane Silverstone Segal, please contact:
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Frank Zitella
President, Chief Operating and Chief Financial Officer
DAVIDsTEA Inc.
5775 Ferrier Street
Mount Royal, Québec H4P 1N3
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Telephone: 514-839-1580
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English (US)