Press Release Regarding Early Warning Reports
Calgary, Alberta--(Newsfile Corp. - January 21, 2022) - Trail Blazing Ventures Ltd. (TSXV: BLAZ.P) (the "Corporation") announces the filing of early warning reports in connection with the previously announced completion of its initial public offering (the "Offering") (see news release of December 7, 2021).
On January 21, 2022, directly following closing of the Offering, the Corporation issued to its directors and officers an aggregate of 2,000,000 options to purchase 2,000,000 common shares in the capital of the Corporation ("Common Shares") at an exercise price of $0.10 per Common Share, expiring January 21, 2032 (collectively, the "Options", and each, an "Option").
The grant included 800,000 Options being issued to Darren Bondar, the President, Chief Executive Officer, Chief Financial Officer and a director of the Corporation, 400,000 Options being issued to each of Craig Steinberg, a director of the Corporation, and Liam Russell Wilson, a director of the Corporation, and 200,000 Options being issued to each of Robert Verbuck, an officer of the Corporation, and Michael Ginevsky, corporate secretary of the Corporation.
Additionally, in connection with the Offering, Mr. Bondar acquired 1,021,000 Common Shares at a price of $0.10 per Common Share for total consideration of $102,100.
Prior to the acquisitions, Mr. Bondar owned, directly, 5,000,000 Common Shares. Mr. Bondar now owns, directly, 6,521,000 Common Shares, representing 16.30% of the issued and outstanding Common Shares and Options to acquire 1,600,000 Common Shares. Assuming the exercise of all Options held by Mr. Bondar, he will own 8,121,000 Common Shares representing 19.52% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.
The Options were granted to the directors and officers as part of the compensation program of the Corporation.
The Corporation is located at Suite 800, 333 - 7th Avenue S.W., Calgary, Alberta, T2P 2Z1.
Reports respecting these acquisitions will be filed with the applicable securities commissions using the System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Corporation's profile at www.sedar.com.
For further information or to obtain copies of the early warning reports, please contact Darren Bondar, President, Chief Executive Officer, Chief Financial Officer and a director of the Corporation at 1-800-503-1875 or via email firstname.lastname@example.org.
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