R. Keast Family Holdings Inc. Transfers Shares to Purchasers
Vancouver, British Columbia--(Newsfile Corp. - April 26, 2021) - R. Keast Family Holdings Inc. ("RKF") announced today that it has sold (the "Disposition") an aggregate of 290,000 common shares (the "Sold Shares") of 1287398 B.C. Ltd. ("398") to each of Akiba Leisman ("Leisman") (210,000 Sold Shares) and Paolo Lostritto (together with Leisman, the "Purchasers") (80,000 Sold Shares) pursuant to share purchase agreements entered into between RKF and each Purchaser on April 23, 2021. The Sold Shares were sold at a price of $0.00003 per Sold Share for an aggregate purchase price of $8.70.
Prior to the Disposition, RKF held 500,000 (approximately 16.67%) common shares of 398. As a result of the Disposition, RKF now holds 210,000 (7%) common shares of 398. RKF sold the Sold Shares for private investment purposes and may increase or decrease its beneficial ownership or control in 398 as circumstances or market conditions warrant.
The Disposition 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 by 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 398'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:
R. Keast Family Holdings Inc.
Attention: Riley Keast
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/81749