Fondly remembering Fatchuck NOT!,,, To remind everyone how much of a douchebag he is .... this is his second go around loaning shares all to be used to Fuk the common shareholders
TORONTO, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Nesta Holding Co. Ltd. (“Nesta”) and Charles Rifici (“Rifici”) announced today that it filed on SEDAR (www.sedar.com) an updated early warning report (the “Early Warning Report”) with respect to common shares (“Shares”), common share purchase warrants (“Warrants”) and options (“Options”) of Auxly Cannabis Group Inc. (the “Issuer”).
The Early Warning Report sets out the details of various transactions completed by Nesta involving securities of the Issuer, which resulted in Nesta’s securityholding percentage of the Issuer falling below 10% as of November 1, 2017. Most recently, on September 7, 2018 Nesta entered into a loan transaction (the “Loan”) with a lender (the “Lender”) pursuant to which 28,719,703 Shares of the Issuer are to be pledged as collateral for a limited recourse loan of funds equal to 66% of the fair market value of the Shares of the Issuer as of the date of the Loan. The 28,719,703 Shares are to be held by the Lender to be available for stock loan transactions through the Lender. The 28,719,703 Shares will be pledged to the Lender in two tranches: 12,000,000 Shares comprise the first tranche and were pledged as of September 13, 2018, and 16,719,703 Shares comprise the second tranche. Nesta shall pay interest on the Loan calculated at fixed interest rate per annum of 2.75% and the Loan has a three year term. If the Loan and all other obligations to the Lender are not paid when due, the pledged Shares may be forfeited.
On November 1, 2017, Nesta’s ownership of securities of the Issuer decreased to below 10% of the issued and outstanding Shares of the Issuer. Since March 21, 2017, Rifici has acquired and disposed of Shares held by him directly or indirectly and, as such, the number of Shares and his securityholding percentage has fluctuated. At no point since January 15, 2018 has Rifici acquired, or had control or direction over, 10% or more of the outstanding Shares of the Issuer.