Versant Ventures today announced it will file an early warning report with respect to the ownership of securities in Repare Therapeutics Inc. (the “Company”) by Versant Venture Capital VI, L.P., Versant Vantage I, L.P., Versant Venture Capital V, L.P., Versant Venture Capital V (Canada) LP, Versant Ophthalmic Affiliates Fund I, L.P. and Versant Affiliates Fund V, L.P. (collectively, the “Versant Funds”).

On June 6, 2022, some of the Versant Funds distributed an aggregate of 700,000 common shares in the capital of the Company (“Common Shares”) pursuant to a discretionary distribution to their respective partners for no additional consideration. The 700,000 Common Shares distributed on June 6, 2022, are referred to as the “Distributed Shares”.

Immediately prior to the disposition of the Distributed Shares, the Versant Funds had beneficial ownership of, and control or direction over, 4,244,862 Common Shares of the Company, representing approximately 10.13% of the outstanding Common Shares as at June 6, 2022. The 700,000 Distributed Shares represent approximately 1.67% of the outstanding Common Shares.

Immediately following the disposition of the Distributed Shares, the Versant Funds have beneficial ownership of, and control or direction over, 3,544,862 Common Shares, representing approximately 8.46% of the outstanding Common Shares. Accordingly, as of June 6, 2022, the Versant Funds ceased to be reporting insiders of the Company within the meaning of National Instrument 55-104 – Insider Reporting Requirements and Exemptions.

The Versant Funds reserve the right, based on all relevant factors and subject to applicable law or other restrictions, at any time and from time to time, to acquire additional Common Shares or other securities of the Company, dispose of some or all of the Common Shares or other securities of the Company that it may own from time to time, in each case in open market or private transactions, block sales or otherwise or pursuant to ordinary stock exchange transactions effected through one or more broker-dealers whether individually or utilizing specific pricing or other instructions (including by means of customary Rule 10b5-1 programs), and review or reconsider their position, change their purpose, take other actions or formulate and implement plans or proposals with respect to any of the foregoing.

The Versant Funds intend to review their investment in the Company from time to time on the basis of various factors, including the Company’s business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Company’s stock in particular, as well as other developments.

An early warning report will be filed by the Versant Funds in accordance with applicable securities laws and will be available on SEDAR under the Company's profile at www.sedar.com or may be obtained directly from the Versant Funds upon request at the telephone number below. The Company's head and registered office is located at 7210 Frederick-Banting, Suite 100, Montréal, Québec H4S 2A1. The address of each of the Versant Funds is One Sansome Street, Suite 3630, San Francisco, CA 94104. Each of the Versant Funds are organized under the laws of Delaware with the exception of Versant Venture Capital V (Canada) LP which is organized under the laws of Ontario, Canada. The principal business of the Versant Funds involves investment in biotechnology companies.

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