The Toronto Stock Exchange reports that D2L Inc. has made an offer to purchase for cash up to $20-million in value of its subordinate voting (SV) shares at a purchase price of not less than $10.50 per share and not more than $11.50 per share. According to the TSX, the offer will expire at 5 p.m. Eastern Time on July 17, 2026, unless withdrawn or extended.

To tender to the offer, shareholders must return the letter of transmittal together with SV share certificates to Computershare Investor Services Inc. at its principal offices in Toronto. The company will select the lowest purchase price per SV share between $10.50 and $11.50 that will enable it to purchase the maximum number of SV shares tendered having an aggregate purchase price not exceeding $20-million.

The TSX notes that the notice of guaranteed delivery must be completed and received by the depositary on or prior to the expiry time. The letter of transmittal along with the SV shares pertaining to the notice of guaranteed delivery must be received by the depositary in Toronto before 5 p.m. Eastern Time on or before the first TSX trading day after the expiration date. Trades on July 17, 2026, will settle on the same day.

For more information, see the offer to purchase and circular dated June 12, 2026, available on SEDAR+.