2171117 Ontario Inc. Acquires Shares from Sellers
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2021) - 2171117 Ontario Inc. ("117") announced today that it has acquired (the "Acquisitions") an aggregate of 800,000 common shares in the capital of 1287396 B.C. Ltd. ("396") (the "Purchased Shares") from each of 1261648 B.C. Ltd. ("648") (200,000 Purchased Shares), B. Keast Family Holdings Inc. ("BKF") (200,000 Purchased Shares), R. Keast Family Holdings Inc. ("RKF") (200,000 Purchased Shares), and SFH Inc. (200,000 Purchased Shares) (collectively with 648, BKF and RKF the "Sellers") pursuant to share purchase agreements entered into between 117 and each Seller on April 21, 2021. The Purchased Shares were purchased at a price of $0.00003 per Purchased Share for an aggregate price of $24.
Prior to the Acquisitions, 117 held nil shares of 396. As a result of the Acquisitions, 117 now holds 800,000 (26.6%) shares of 396.
The Acquisitions were conducted in reliance on the "private agreement exemption" in section 4.2 of National Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104") and as a result was exempt from the take-over bid requirements in Part 2 of NI 62-104. The Purchased Shares were purchased from fewer than five sellers and at a price less than 115% of the market price of the Purchased Shares, in each case as calculated in accordance with NI 62-104.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report will appear with 396's documents on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
For further information or to request a copy of the early warning report, please contact:
2171117 Ontario Inc.
Attention: Patrick McBride
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81448