World Wide Announces Closing of Private Placement

August 14, 2018 3:57 PM EDT | Source: Abacus Health Products Inc.

Toronto, Ontario--(Newsfile Corp. - August 14, 2018) - World Wide Inc. (the "Company" or "World Wide") is pleased to announce that it has closed its previously announced non-brokered private placement financing of 27,950,000 common shares in the share capital of the Company (each, a "Share") at $0.02 per Share for gross proceeds of $559,000 (the "Offering"). All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The net proceeds of the Offering will be used for the repayment of debt and general working capital purposes.

As noted in the Company's news release issued on July 24, 2018 (the "Initial News Release"), certain directors and officers have participated in the Offering. Accordingly, such participation is considered a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, such participation is exempt from the formal valuation and majority of the minority shareholder approval requirements set out in MI 61-101 for the reasons described in the Initial News Release. The Company did not file a material change report at least 21 days prior to closing of the Offering since the extent of the related party participation was not determined at that time.

Pursuant to the Offering, Yaron Conforti, a director and senior officer of World Wide, has acquired 9,135,000 Shares, representing 30.34% of the issued and outstanding Shares on a non-diluted basis. Prior to the Offering, Yaron Conforti did not beneficially own, or exercise control or direction over, any securities of the Company. Yaron Conforti acquired these securities for investment purposes and may, from time to time, acquire additional securities of the Company or dispose of such securities as Yaron Conforti may deem appropriate. For the purpose of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"), the address of Yaron Conforti is #205 - 385 Brunswick Ave., Toronto, Ontario, M5R 3R1.

Pursuant to the Offering, Jonathan Conforti has acquired 9,135,000 Shares, representing 30.34% of the issued and outstanding Shares on a non-diluted basis. Prior to the Offering, Jonathan Conforti did not beneficially own, or exercise control or direction over, any securities of the Company. Jonathan Conforti acquired these securities for investment purposes and may, from time to time, acquire additional securities of the Company or dispose of such securities as Jonathan Conforti may deem appropriate. For the purpose of NI 62-103 the address of Jonathan Conforti is Nahal Amud 11, Modiin, 71704, Israel.

Pursuant to the Offering, KW Capital Partners Ltd. ("KW"), a corporation of which Jesse Kaplan, a director of the Company, is also a director, has acquired 5,220,000 Shares, representing 17.33% of the issued and outstanding Shares on a non-diluted basis. Prior to the Offering, KW did not beneficially own, or exercise control or direction over, any securities of the Company. KW acquired these securities for investment purposes and may, from time to time, acquire additional securities of the Company or dispose of such securities as KW may deem appropriate. For the purpose of NI 62-103 the address of KW is 10 Wanless Ave, Suite 201, Toronto, Ontario, M4N 1V6, President: Sruli Weinreb.

Pursuant to the Offering, Shimcity Inc. ("Shimcity"), has acquired 3,860,000 Shares, representing 12.82% of the issued and outstanding Shares on a non-diluted basis. Prior to the Offering, Shimcity did not beneficially own, or exercise control or direction over, any securities of the Company. Shimcity acquired these securities for investment purposes and may, from time to time, acquire additional securities of the Company or dispose of such securities as Shimcity may deem appropriate. For the purpose of NI 62-103 the address of Shimcity is 91 Castlewood Road, Toronto, Ontario, M2N 2L3, President: Shimmy Posen.

In addition, Stewart Wright ("Wright") has announced today that. as a result of the closing of the Offering, the holdings of World Wide owned or controlled by Wright, directly or indirectly, decreased to less than 10% of the outstanding securities of the class of securities that was the subject of the most recent report filed by the Wright in respect of World Wide under NI 62-103. Prior to the Offering, Wright, directly or indirectly, had ownership or control over 1,883,044 Shares. representing approximately 87.07% of the issued and outstanding Shares on a non-diluted basis. Wright did not purchase any Shares pursuant to the Offering. Immediately after the completion of the Offering, Wright had beneficial ownership of or control over, directly or indirectly, 1,883,044 Shares representing approximately 6.25% of the issued and outstanding Shares on a non-diluted basis after giving effect to the Offering. Wright may, from time to time, take such actions in respect of its holdings in securities of the Company, as it may deem appropriate, in light of the circumstances then existing, including the purchase of additional Shares or other securities of the Company or the disposition of all or a portion of its security holdings in the Company, subject in each case to applicable securities laws and the terms of such securities. For the purpose of NI 62-103 the address of Wright is 51 Chestnut Park Road, Toronto, Ontario, M4W 1W7.

Copies of the respective early warning reports being filed by Yaron Conforti, Jonathan Conforti, KW, Shimcity and Wright may be obtained on the Company's SEDAR profile or by contacting the Company at (416) 716-8181.

On behalf of the Board of Directors

WORLD WIDE INC.

signed "Yaron Conforti"

Yaron Conforti
CEO, CFO, Secretary and Director
T: (416) 716-8181
E: yaron@conforti.ca

Cautionary Statement and Forward Looking Information: This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement. Accordingly, readers should not undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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