A&W Food Services of Canada Inc. ("Food Services") announced today that it has filed an early warning report dated January 5, 2023 (the "Early Warning Report") with respect to its ownership of securities exchangeable for units ("Units") of A&W Revenue Royalties Income Fund (the "Fund").
Prior to December 8, 2022, Food Services had ownership and control of securities indirectly exchangeable for 5,116,838 Units, representing approximately 26.0% of the outstanding voting securities of the Fund.
On December 8, 2022, Food Services acquired ownership and control of 190,903 limited partnership units ("LP Units") of A&W Trade Marks Limited Partnership, which are indirectly exchangeable for 190,903 Units. This acquisition did not result in Food Services acquiring beneficial ownership of, or control or direction over, either (i) an additional 2% or more of the outstanding securities of the class of securities that was the subject of the most recent early warning report required to be filed by Food Services, or (ii) securities convertible into an additional 2% or more of the outstanding securities referred to in (i). On January 5, 2023, Food Services acquired ownership and control of a further 380,368 LP Units which are indirectly exchangeable for 380,368 Units. As a result of these transactions, Food Services' percentage interest in the outstanding voting securities of the Fund increased by approximately 2.1% on a diluted basis.
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