Missing Pieces now put togetherCheck this more detailed release of inforamtions regarding the recent 5 Million financing AVP received. Now a Directors companie will hold 69.7 % of the outstanding shares.?. bahaha.. I love it.
CNW Group
Panta Holdings B.V. ("Panta") announces that it has acquired, through its wholly-owned subsidiary Panta Canada B.V. ("Panta Canada"), 12,285,647 warrants (the "Warrants") to purchase common shares ("Common Shares") of Avcorp Industries Inc. (the "Company"). The Warrants, which are exercisable on or before September 19, 2018 at an exercise price of $0.07 per Common Share, were issued to Panta Canada in connection with the Company's first drawdown under a US$5 million unsecured loan facility extended by Panta Canada to the Company (the "Term Loan"). As partial consideration for the Term Loan, the Company has agreed to issue to the acquiror up to 30,714,118 Common Share purchase warrants based on the total amount borrowed by the Company under the Term Loan.
Following its acquisition of the Warrants, Panta, through Panta Canada, now holds (i) 201,029,045 Common Shares and (ii) warrants to purchase an additional 42,548,965 Common Shares. Assuming the exercise in full of all such warrants, Panta Canada owns or may deemed to own a total of 243,578,010 Common Shares, representing approximately 69.7% of the issued and outstanding Common Shares after giving effect to such exercise.
Panta acquired the Warrants for investment purposes. Panta reviews its holdings in the Company on a continuing basis and may from time to time and at any time, in its sole discretion, acquire or cause to be acquired additional equity or debt securities or other instruments of the Company, or dispose or cause to be disposed such equity or debt securities or instruments, through open market transactions, private placements by the Company and other privately negotiated transactions, or otherwise, in each case in accordance with applicable securities laws. Panta and Panta Canada are wholly-owned subsidiaries of Jaap R. Rosen Jacobson, who is a director of the Company.
This press release is being issued pursuant to the requirements of Part 3 of National Instrument 62??103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report to be filed by Panta in connection with the transactions described herein will be available on Avcorp's SEDAR profile at www.sedar.com, and can also be obtained by contacting the Corporate Secretary of Panta at the telephone number listed below.
SOURCE Panta Holdings B.V.
But he's also
Jaap R Rosen Jacobson is an independent director on the BOD of Avcorp since 2009
https://www.bloomberg.com/research/stocks/private/person.asp?personId=23886115&privcapId=763825
Cheers