Amarvir Gill acquires shares and warrants. Toronto, Ontario--(Newsfile Corp. - February 22, 2024) - Amarvir Gill (the "Acquiror"), the President, Chief Executive Officer and a Director of Biosenta Inc. ("Biosenta") listed on the Canadian Securities Exchange (CSE: ZRO) announces that he acquired 1,250,000 common shares (the "Shares") and 625,000 warrants to purchase common shares (the "Warrants") pursuant to a debt settlement transaction whereby Biosenta issued the Shares 1,250,000 and 625,000 Warrants to settle $500,000 in debt owed to the Acquiror (the "Debt Settlement Transaction").
Prior to the Debt Settlement Transaction, the Acquiror owned 3,764,380 Shares, representing 13.61% of the then issued and outstanding Shares and had ownership of stock options to acquire 270,000 Shares (the "Options"). If the Options were to be exercised, the Acquiror would have had ownership or control over 4,034,380 Shares, representing 14.45% of the then issued and outstanding Shares, on a partially diluted basis.
Following the Offering, the Acquiror has control over 5,014,380 Shares, representing 16.93% of the issued and outstanding Shares following the Debt Settlement Transaction and has ownership of 625,000 Warrants and 270,000 Options. If the Warrants and Options are exercised, the Acquiror will have ownership or control over 5,909,380 Shares, representing 19.37% of the currently issued and outstanding Shares, on a partially diluted basis.