Flow Capital Disposes of Ownership of Lattice Biologics Ltd. Common Shares
TORONTO, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Flow Capital Corp. (the “Company” and “Flow”) (TSX VENTURE:FW) announces that it has filed an early warning report under National Instrument 62-103 in connection with the disposition of 2,435,000 common shares of Lattice Biologics Ltd. (“Lattice”).
On October 16, 2018, Flow disposed of common shares of Lattice, which in the aggregate, resulted in the cumulative disposition of more than 2% of the outstanding common shares of Lattice, thereby triggering the requirement to file an early warning report. As of October 16, 2018, Flow had disposed of a total of 2,435,000 common shares of Lattice for total consideration of $92,773.50, or an average price of $.0381 per common share.
Immediately prior to the disposition, Flow beneficially owned 18,246,600 common shares of Lattice, representing approximately 19.52% of Lattice's issued and outstanding common shares. As a result of the disposition, Flow beneficially owns 15,811,600 common shares of Lattice, representing approximately 16.92% of Lattice's issued and outstanding common shares.
While Flow currently has no plans or intentions with respect to the Lattice common shares, depending on market conditions, general economic and industry conditions, trading prices of Lattice's common shares, Flow's business, financial condition and prospects and/or other relevant factors, Flow may develop such plans or intentions in the future and, at such time, may from time to time acquire additional common shares, dispose of some or all of the existing or additional common shares or may continue to hold the common shares of Lattice.
A copy of the early warning report filed by Flow will be available on Lattice's SEDAR profile at www.sedar.com or by contacting Robb McLarty of Flow at (416) 777-0383. Flow's head office is located at 1 Adelaide Street East, Suite 3002, Toronto, Ontario, M5C 2V9. Lattice's head office is located at 16701 North 90th Street, Suite 101, Scottsdale, Arizona, 85260.