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SERENIC CHAIR NEARLY DOUBLES HOLDINGS

SerenicDwayne Kushniruk, chairman of the Serenic Corp., has nearly doubled his stake in the company after buying stock from another major shareholder. Kushniruk has acquired control of 2,590,833 common shares that had been held by Gordon Buchanan or companies owned by him. Before the transaction, Kushniruk held about 16.9 percent of the outstanding shares.

The March deal raises his stake to about 35.80 percent of shares, assuming he exercises all the stock options he holds. Buchanan is a venture/equity investment guy and this suggests change might continue up north.  On March 27, the company reiterated its intention to investigate options for the company in an update statement about results for fiscal 2013, which ended on February 28. In that prepared statement, which was also dated March 27, Serenic said, "management will also continue to investigate merger and acquisition opportunities for accretive acquisition candidates, as well as other scenarios that could optimize value for shareholders." Serenic expects to release 2013 results about the last week in June. Kushniruk's action suggests keeping at eye on its next move as the timing of all these things could point to interesting developments ahead.
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