TORONTO, May 12, 2026 (GLOBE NEWSWIRE) — John Carswell announced today that on May 11, 2026, Lysander Funds Limited (“Lysander”), a company which Mr. Carswell beneficially owns, disposed Class A Units (“Class A Units”) of Canso Credit Income Fund (TSX: PBY.UN) (the “Issuer”) through the facilities of exchanges, including the Toronto Stock Exchange (the “Disposition”). Mr. Carswell’s indirect ownership of the Issuer decreased by 12,378 Class A Units.
Prior to the Disposition, Mr. Carswell beneficially owned or controlled, directly or indirectly, 1,105,838 Class A Units and 346 Class F units of the Issuer (“Class F Units”). Class F Units are convertible to Class A Units. Accordingly, assuming all of the Class F Units beneficially owned or controlled by Mr. Carswell were exercised for Class A Units (and no other Class F Units were exercised), Mr. Carswell would have beneficial ownership of or control over, directly or indirectly, 1,106,184 Class A Units, representing approximately 12.17% of the 9,091,966 issued and outstanding Class A Units on a partially-diluted basis prior to the Disposition.
As a result of the Disposition, Mr. Carswell now has beneficial ownership of or control over, directly or indirectly, 1,093,460 Class A Units, representing approximately 12.03% of the 9,091,620 issued and outstanding Class A Units on a non-diluted basis, and 346 Class F Units, representing approximately 0.34% of the 101,599 issued and outstanding Class F Units. Accordingly, assuming all of the Class F Units beneficially owned or controlled by Mr. Carswell were exercised for Class A Units (and no other Class F Units were exercised), Mr. Carswell would have beneficial ownership of or control over, directly or indirectly, 1,093,806 Class A Units, representing approximately 12.03% of the 9,091,966 issued and outstanding Class A Units on a partially-diluted basis after the Disposition.
The Class A Units beneficially owned or controlled, directly or indirectly, by Mr. Carswell as a result of the Disposition are being held for investment purposes. Mr. Carswell may, depending on market, general economic, industry and other conditions and considerations, and in compliance with applicable securities laws, increase or decrease its respective ownership or control of Class A Units for investment purposes.
Mr. Carswell will file an early warning report (the “Early Warning Report”) with the securities regulators in each of the provinces of Canada with respect to the foregoing matters pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the Early Warning Report will appear on the Issuer’s profile on SEDAR+ at www.sedarplus.ca.
For further information or to obtain a copy of the Early Warning Report filed in connection with this matter, please contact:
Jeff Tang
Tel. No. 905-881-8853
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