| By PR Newswire |
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| January 17, 2013 06:25 PM EST |
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TORONTO, Jan. 17, 2013 /CNW/ - This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting
Issues.
Mr. Timothy J. McDonald, of 39 Coolidge Point, Manchester, MA, USA ("Mr. McDonald") announced today that he has acquired beneficial ownership of 14.3% of
the common shares in the capital stock of DragonWave Inc. ("DWI") as follows.
As of June 21, 2012 Mr. McDonald had ownership of 2,031,110 DWI common
shares (5.35% of the DWI issued and outstanding common shares).
Between June 27, 2012 and December 5, 2012, Mr. McDonald acquired an
additional 1,773,371 common shares, becoming the owner of 3,804,481 DWI
common shares (10% of the DWI issued and outstanding). By December 31,
2012 Mr. McDonald had purchased an additional 1,160,019 DWI common
shares, becoming the owner of 4,964,500 common shares (representing
approximately 13.06% of the DWI issued and outstanding). Between
January 3 and 11, 2013, Mr. McDonald purchased an aggregate 468,826
common shares, becoming the beneficial owner of 5,433,326 DWI common
shares (representing approximately 14.3% of the issued and
outstanding).
All the purchases were made through the facilities of NASDAQ. The
average price for the common shares acquired between June 27, 2012 and
December 5, 2012 was US$2.54 per share (Cdn$2.54). The average price
for the common shares acquired between December 5 and December 31, 2012
was US$3.14 per share (Cdn$3.14). The average price for the common
shares acquired between January 3 and 11, 2013 was US$3.0605 per share
(Cdn$3.06).
The securities were acquired as a private investment of Mr. McDonald who
is not acting with any joint actor and does not have a control position
in DWI. Mr. McDonald has no intention of acquiring ownership of, or
control over, additional DWI securities.
A report containing additional information with respect to the foregoing
matters will be filed with the Securities Commission in each
jurisdiction where DWI is a reporting issuer and will be available for
viewing through the Canadian System for Electronic Document Analysis
and Retrieval (SEDAR) at www.sedar.com. A copy of the report may also be obtained by contacting Mr. McDonald
at the address below.
SOURCE DragonWaves Inc.
