NGN BioMed Opportunity II, L.P. Announces Filing of Early Warning Report
Stamford, Connecticut--(Newsfile Corp. - November 12, 2020) - As required by applicable securities laws, NGN BioMed Opportunity II, L.P. ("NGN") announces that, as a result of the completion of a recent private placement of common shares by Zenith Capital Corp. ("Company"), NGN holds less than 10% of the issued and outstanding common shares of the Company.
Prior to the completion of the private placement by the Company, NGN held 13,142,692 common shares, 137,500 common share purchase warrants and convertible debentures in the principal amount of US$125,000 that were convertible into 83,333 units, each unit being comprised of one common share and one common share purchase warrant. Assuming conversion of the convertible debentures and exercise of the warrants, NGN would have held an aggregate of 13,446,858 common shares, which would have represented 10.07% of the issued and outstanding common shares at July 31, 2020.
Following completion of the private placement by the Company, after giving effect to the subsequent conversion by NGN of the convertible debentures and assuming exercise in full of NGN's warrants, NGN holds and would hold less than 10% of the issued and outstanding common shares.
A copy of the early warning report filed in respect of NGN's shareholdings in the Company is available under the Company's SEDAR profile at www.sedar.com or may be obtained by contacting Alex Cuomo at 212-972-0077.
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