Uptempo Inc. Reports Sale of Part of Its Equity Stake in Hank Payments Corp. and Early Warning Report
Toronto, Ontario--(Newsfile Corp. - May 17, 2023) - This press release is being disseminated as required by National Instrument 62 103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the disposition of shares of Hank Payments Corp. (TSXV: HANK) ("Hank") by Uptempo Inc. (the "Company").
The Company announced that it has sold 6,151,000 shares at a price of $0.10 per share in a private transaction and filed an Early Warning Report. Prior to the sale, the Company owned 23,571,243 shares of Hank representing 32.3% of the issued and outstanding shares of Hank. Following the sale, Hank beneficially owns 17,420,243 Hank shares, representing approximately 23.8% of the issued and outstanding securities of Hank.
The disposition was completed for investment purposes. The Company may, in future, increase or decrease its ownership, control or direction over the Hank securities through market transactions, private agreements, or otherwise.
A copy of the Company's Early Warning Report with respect to the foregoing is filed under applicable securities laws and is available under Hank's profile on SEDAR at www.sedar.com.
Uptempo Inc. is located at 340 King Street East, 2nd Floor, Toronto, Ontario, M5A1K8.
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