valuationFORM 62-103F3 REQUIRED DISCLOSURE BY AN ELIGIBLE INSTITUTIONAL INVESTOR UNDER SECTION 4.5(d)
Item 1 – Identity of the Eligible Institutional Investor
1.1 State the name and address of the eligible institutional investor. MM Asset Management Inc. (“MM Asset”) 161 Bay Street Suite 2240 Toronto, Ontario M5J 2S1 MMCAP International Inc. SPC (“MMCAP”) is an investment fund advised by MM Asset.
Item 2 – Security and Reporting Issuer
2.1 State the designation of securities to which this report relates and the name and address of the head office of the issuer of the securities. Red Light Holland Corp. (the “Issuer”) 1 Adelaide Street East, Suite 801 Toronto, Ontario M5C 2V9 This report relates to common shares (“Shares”) in the capital of the Issuer.
2.2 State the designation and number or principal amount of voting or equity securities of the reporting issuer in respect of which the report is being filed and the securityholding percentage of the eligible institutional investor in the class of securities. As at the end of October, 2020, MM Asset, on behalf of MMCAP, exercised control and direction over 18,181,818 common shares purchase warrants, (the “Warrants”), each Warrant entitles the holder to purchase an additional Share at the price of $0.26 per Share until June 8, 2024, representing approximately 7.33% of the Issuer’s 229,934,979 outstanding Shares as reported in its Management Information Circular dated October 29, 2020, calculated on a partially diluted basis.
Item 3 – Statement of Eligibility 3.1 MM Asset is eligible to file reports under Part 4 of National Instrument 62-103.
DATED this 10th day of November, 2020. MM ASSET MANAGEMENT INC. By: “Hillel Meltz” Hillel Meltz, President