Immediately before the transaction described above, the Acquiror held an aggregate of 9,795,000 common shares of the Company and common shares purchase warrants entitling the Acquiror to acquire an additional 1,250,000 common shares of the Company (the “Warrants”), representing approximately 9.00% of the issued and outstanding common shares of the Company (or approximately 10.02% assuming exercise of the Warrants only). Upon completion of the transaction described above, the Acquiror owns and controls an aggregate of 9,617,000 common shares of the Company and the 1,250,000 Warrants, representing approximately 8.84% of the issued and outstanding common shares of the Company as of
The holdings of securities of the Company by the Acquiror are managed for investment purposes. The Acquiror may from time to time acquire additional securities of the Company, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position.
The Company’s head office address is located at
The Acquiror’s head office is located at Suite 301 –
This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will appear with the Company’s filings on the System for Electronic Document Analysis and Retrieval (SEDAR) and may be obtained upon request from
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