Vancouver, British Columbia--(Newsfile Corp. - June 23, 2022) - John McCleery announced today that he has acquired a total of 500,000 common shares ("Common Shares") of Keon Capital Inc. ("Keon" or the "Company").
Mr. McCleery acquired 300,000 Common Shares pursuant to Keon's private placement financing of 2,000,000 Common Shares at a price of $0.25, which closed on June 22, 2022 (the "Private Placement"), and an additional 200,000 Common Shares pursuant to several private transactions immediately after the closing of the Private Placement (together, the "Acquisitions").
The Acquisition coincided with the closing of a number of Keon shares-for-debt settlement transactions aggregating to $236,636 pursuant to which the Company issued a total of 946,544 Common Shares to certain of its creditors at a deemed price of $0.25 per share (the "Debt Settlements").
Pursuant to the Debt Settlements and the Private Placement, Keon issued a total of 2,946,544 Common Shares, increasing its total number of issued and outstanding Common Shares to 4,862,272 shares.
Prior to the Acquisitions, Mr. McCleery held no Common Share. As a result of the Acquisitions, Mr. McCleery now holds, directly and indirectly, a total of 500,000 Common Shares, representing approximately 10.28% of the Company's 4,862,272 issued and outstanding Common Shares. Consequently, and with reference to subsection 5.2(1) of National Instrument 62-104 - Take-Over Bids and Issuer Bids, Mr. McCleery's beneficial ownership of, or control or direction over, Common Shares of Keon has increased to greater than 10%.
Following closing of the Private Placement and the Acquisitions, Mr. McCleery joined the board of directors of the Company to fill in the vacancy created by the resignation of John Watson.
Mr. McCleery holds common shares of Keon for investment purposes and may increase or decrease his beneficial ownership in Keon as circumstances or market conditions warrant.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the related early warning report will be filed with the applicable securities commissions and be available under Keon's filer profile at www.sedar.com.
FOR FURTHER INFORMATION, CONTACT:
John McCleery
801-2222 Belleview Ave.
West Vancouver, BC V7V 1C7
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128815
