1261648 B.C. Ltd. Sells Shares to 2171117 Ontario Inc.
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2021) - 1261648 B.C. Ltd. ("648") announced today that it has sold (the "Sale") an aggregate of 200,000 common shares (the "Sold Shares") of 1287396 B.C. Ltd. ("396") to 2171117 Ontario Inc. ("117") pursuant to a share purchase agreement entered into between 648 and 117 on April 21, 2021. The Sold Shares were sold at a price of $0.00003 per Sold Share for an aggregate price of $6.
Prior to the Sale, 648 held 1,500,000 (50%) shares of 396. As a result of the Sale, 648 now holds 1,300,000 (43.3%) shares of 396.
The Sale was 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 Sold Shares were purchased from fewer than 5 sellers and at a price less than 115% of the market price of the Sold 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:
1261648 B.C. Ltd.
Attention: Matthew Zabloski
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81462