Post by
alfee555 on Nov 23, 2020 5:24pm
One large shareholder, just keeps adding
s just filed on Nover 17, 2020
Stephen Martin (the “Acquiror”) Pendrell Street Vancouver, BC V6G 1T9
2.2 State the date of the transaction or other occurrence that triggered the requirement to file this report and briefly describe the transaction or other occurrence.
On November 16, 2020, the Acquiror acquired ownership of 2,054,000 Shares and 1,027,000 nontransferable common share purchase warrants (the “Warrants”) pursuant to a non-brokered private placement (the “Private Placement”) of units (the “Units”) at a price of $0.05 per Unit. Each Warrant is exercisable by the Acquiror into Shares of the Company at an exercise price of $0.15 per Share until November 16, 2022.
3.1 State the designation and number or principal amount of securities acquired or disposed of that triggered the requirement to file the report and the change in the acquiror’s security holding percentage in the class of securities.
Prior to the closing of the Private Placement, the Acquiror held 19,361,674 Shares and 8,103,334 Warrants and the Acquiror’s non-diluted shareholdings represented approximately 29.49% of the Company’s issued and outstanding Shares and the Acquiror’s diluted shareholdings represented approximately 37.24%, assuming exercise of all Warrants held by the Acquiror and no other share issuances by the Company.
Following closing of the Private Placement,
the Acquiror now holds 21,415,674 Shares representing approximately 29.95% of the Company’s issued and outstanding Shares on a non-diluted basis and 37.88% on a diluted basis, assuming exercise of all Warrants held by the Acquiror and no other share issuances by the Company