Largest shareholder adds more 2022-11-25 15:50 ET - News Release
Mr. Joseph Houssian reports
Joseph Houssian, a director of Oceanic Wind Energy Inc., acquired ownership of one million common shares of the company at a price of five cents per share, along with a warrant exercisable for one year at seven cents, on Nov. 25, 2022. The Securities were issued in connection with the closing of a non-brokered private placement carried out by the Company (the "Private Placement").
Prior to the acquisition of Securities under the Private Placement, the Acquiror held 15,868,193 Shares, and 989,474 stock options (the "Options") and the Acquiror's non-diluted shareholdings represented approximately 20.1% of the Company's issued and outstanding Shares.
As a result of the acquisition of Securities under the Private Placement, the Acquiror now holds 16,868,193 Shares, 989,474 Options, and 1,000,000 Warrants and the Acquiror's non-diluted shareholdings now represent approximately 20.1% of the Company's issued and outstanding Shares. Thus, on a partially diluted basis (i.e., assuming full exercise of all Warrants and Options), the Acquiror would hold a total of 18,857,667 Shares, representing approximately 21.9% of the Company's issued and outstanding Shares.
The Securities were acquired for investment purposes.