A-Labs Still Needs $18M US for HUBC Dealhttps://en.globes.co.il/en/article-hub-security-raises-funds-despite-scandals-1001446003
Just before that move was completed, in late February this year, Moshe was removed as CEO, and after the SPAC merger was completed it was reported that the company was investigating suspicions of embezzlement by him. Separately, there were difficulties over the merger. Among other things, three PIPE (private investment in public equity) investors failed to transfer $50 million that the company was supposed to receive. Later, it was reported that A-Labs, one of the three PIPE investors and also Hub’s investment banker, transferred $2 million to the company instead of the $20 million to which it had committed.
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Following the conversion of the Principal Amount owing under the Convertible Loan , on a non-diluted basis, the Acquiror holds 33,528,506 Shares, representing approximately 16.93% of the 197,998,497 issued and outstanding Shares, and, on a partially-diluted basis (assuming exercise of the 25,578,506 share purchase warrants held by the Acquiror and assuming a Conversion Price of C$0.05 and the full conversion of all principal and accrued interest to the currently scheduled maturity dates), the Acquiror holds 59,107,012 Shares, representing approximately 18.35% of the 322,104,989 issued and outstanding Shares.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ( "NI 62-103" ) of the Canadian Securities Administrators in connection with the acquisition of the Common Shares and Options by the Acquiror , which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report of the Acquiror will be available on the Company ' s issuer profile on SEDAR at www.sedar.com. A copy of the early warning report can also be obtained by contacting Monita Faris at (778) 996-4483 or at monita@pacificblueholdings.com .
For the purposes of NI 62-103, the address of the Acquiror is 18 Duvdevan St., Kadima, Israel 609200 , and the head office address of the Company is c/o Automic Group, 126 Philip St., Level 5, Sydney, Australia.
SOURCE 12.64 Fund Limited Partnership
https://ca.finance.yahoo.com/news/12-64-fund-limited-partnership-165300005.html