Beedie Investments Limited Agrees to Acquire Common Shares in LifeSpeak Inc.

March 04, 2024 1:19 PM EST | Source: Beedie Investments Ltd.

Vancouver, British Columbia--(Newsfile Corp. - March 4, 2024) - Beedie Investments Limited (the "Beedie") has entered a subscription agreement with LifeSpeak Inc. (the "Company") to acquire beneficial ownership over an aggregate of 2,307,907 common shares of the Company (the "Common Shares") at a price of $0.60791 per Common Share. The Common Shares were acquired by Beedie pursuant to a private placement offering of common shares of the Company announced on March 4, 2024 (the "Private Placement").

Immediately prior to the Private Placement, Beedie held or exercised control or direction over (i) 2,765,482 Common Shares, representing approximately 5.4% of the issued and outstanding Common Shares (on a non-diluted basis); and (ii) assuming the conversion in full of the aggregate principal amount outstanding under the non-revolving term convertible loan facility made available by Beedie to the Company (the "Loan Facility") of $15 million using the applicable conversion price under the Loan Facility, Beedie would hold or exercise control or direction over an aggregate of 16,401,845 Common Shares, representing approximately 25.41% of the issued and outstanding Common Shares (on a partially-diluted basis).

Following the completion of the Private Placement, Beedie would hold or exercise control or direction over (i) 5,073,389 Common Shares, representing approximately 8.6% of the issued and outstanding Common Shares (on a non-diluted basis); and (ii) assuming the conversion in full of the aggregate principal amount outstanding under the Loan Facility of $15 million using the applicable conversion price under the Loan Facility, the Acquiror would hold or exercise control or direction over an aggregate of 18,709,752 Common Shares, representing approximately 25.71% of the issued and outstanding Common Shares (on a partially-diluted basis).

All of the securities held by Beedie in the Company, including the Common Shares and the Loan Facility, are being held for investment purposes. Beedie may in the future take such actions in respect of its Company securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of the Company through open market purchases or privately negotiated transactions, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Beedie may continue to hold its current positions.

A copy of the early warning report relating to the aforementioned Common Shares will be available under the Company's profile on SEDAR+ at www.sedarplus.ca, and may also be obtained by contacting Beedie Investments Limited at 604-435-3321. Beedie's head office is located at Suite 900 - 1111 West Georgia St., Vancouver, BC V6E 4M3.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200335

info