RE:RE:Sept 15 dividend Dividend delayed so HTC can sell 2 million Delta shares into the open market?
Form 45-102F1
Notice of Intention to Distribute Securities under Section 2.8 of NI 45-102 Resale of Securities
1. Name of reporting issuer: Delta CleanTech Inc.
Selling security holder
2. Your name: HTC Purenergy Inc.
3. The offices or positions you hold in the reporting issuer: Control Person.
4. Are you selling securities as a lender, pledgee, mortgagee or other encumbrancer? No.
5. Number and class of securities of the reporting issuer you beneficially own: 20,000,100 common shares.
Distribution
6. Number and class of securities you propose to sell: 2,000,100.
7. Will you sell the securities privately or on an exchange or market? If on an exchange or market, provide the name. On the CSE.
lscfa wrote: Delayed until January. Boneheads.
News Release October 18, 2021 For Immediate Release
HTC ANNOUNCES ISSUANCE OF DIVIDEND-IN-KIND SHARES OF DELTA CLEANTECH INC.
Regina, Saskatchewan — HTC Purenergy Inc. (“HTC” or the “Company”) (TSXV: HTC) (OTCQB: HTPRF) announces today, further to its announcement on August 6, 2021, that the Company will issue a special dividend-in-kind (the “Dividend”) of 12,000,000 common shares (“Delta Shares”) of Delta CleanTech Inc. (“Delta”) held by HTC to its holders of record of common shares of HTC (“HTC Shares”) as determined at the close of business on August 13, 2021 (the “Record Date”).
The board of directors has determined, in the best interest of HTC shareholders and the Corporation, to pay the Dividend to the holders of HTC Shares on or before January 10, 2022.
The Delta Shares distributed under the Dividend are subject to a pooling arrangement restricting the trading of the Delta Shares. It is anticipated that upon the Dividend payment, 40% of the Delta Shares will be free trading, with the remaining Delta Shares becoming free trading in 20% increments on February 19, 2022, May 19, 2022 and August 19, 2022 respectively.