TRANSFER OF COMMON SHARES BY CLEARVIEW CAPITAL LIMITED
TO VADIM JIVOV, DIRECTOR OF RENAISSANCE
The Company has been advised that on October 23, 2017, Clearview Capital Limited, 3rd floor, 37 Esplanade, St. Helier, Jersey JE2 3QA (" Clearview "), disposed of 15,427,500 Common Shares in a private transaction (the "Transaction") by way of a transfer to Vadim Jivov, a director of the Company, representing approximately 6.72% of the issued and outstanding Common Shares.
The Common Shares were disposed of by Clearview to Mr. Jivov at a price of C$0.25 per Common Share.
Prior to the Transaction, Clearview directly or indirectly held, or exercised control over: (a) an aggregate of 15,427,500 Common Shares, representing approximately 6.72% of the issued and outstanding Common Shares; and (b) an aggregate of 15,000,000 Warrants, each Warrant being exercisable into one Common Shares at a price of C$0.50 until July 31, 2019. Assuming exercise of the 15,000,000 Warrants, prior to the Transaction, Clearview would have held directly or indirectly, or exercised control over, an aggregate of 30,427,500 Common Shares, representing approximately 12.44% of the issued and outstanding Common Shares on a partially-diluted basis.
After the Transaction, Clearview (a) does not hold directly or indirectly, or exercise control over, any Common Shares; and (b) holds directly or indirectly, or exercises control over, an aggregate of 15,000,000 Warrants. Assuming exercise of the 15,000,000 Warrants, Clearview would hold directly or indirectly, or exercise control over, an aggregate of 15,000,000 Common Shares, representing approximately 6.13% of the issued and outstanding Common Shares on a partially-diluted basis. Accordingly, Clearview is no longer deemed a 10% holder of voting or equity securities of the Company and will not be required to complete any further regulatory filings following the Transaction.
The Company has been advised that Clearview disposed of these securities for investment purposes and as disclosed in the early warning report to be filed in conjunction with this news release, may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.
An early warning report in respect of the Transaction will be filed under the Company's profile on SEDAR at www.sedar.com, and may also be obtained by contacting the person named below.
Read more at https://www.stockhouse.com/news/press-releases/2017/10/24/renaissance-announces-listing-of-warrants-and-transfer-of-common-shares-by#r0WfhDXUD3x20wz2.99