Calgary, Alberta--(Newsfile Corp. - February 10, 2023) - Scaling Capital 1 Corp. (TSXV: SKAL.P) (the "Corporation") announces the filing of early warning reports in connection with the previously announced completion of its initial public offering (the "Offering") (see news release of February 10, 2023).
On February 10, 2023, directly following closing of the Offering, the Corporation issued to its directors and officers an aggregate of 1,700,000 options to purchase 1,700,000 common shares in the capital of the Corporation ("Common Shares") at an exercise price of $0.10 per Common Share, expiring February 10, 2033 (collectively, the "Options", and each, an "Option").
The grant included 212,500 Options being issued to each of James Fox and John Wilson, directors of the Corporation, and 850,000 Options being issued to Alex Tapscott, President and Chief Executive Officer of the Corporation.
Prior to the acquisition, Mr. Fox owned, indirectly, 5,000,000 Common Shares. Mr. Fox now owns, indirectly, 5,000,000 Common Shares, representing 29.41% of the issued and outstanding Common Shares, and, directly, Options to acquire 212,500 Common Shares. Assuming the exercise of all Options held by Mr. Fox, he will own 5,212,500 Common Shares representing 30.28% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.
Prior to the acquisition, Mr. Wilson owned, directly, 2,000,000 Common Shares. Mr. Wilson now owns, directly, 2,000,000 Common Shares, representing 11.76% of the issued and outstanding Common Shares, and, directly, Options to acquire 212,500 Common Shares. Assuming the exercise of all Options held by Mr. Wilson, he will own 2,212,500 Common Shares representing 12.85% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.
Prior to the acquisition, Mr. Tapscott owned, indirectly, 1,500,000 Common Shares. Mr. Tapscott now owns, indirectly, 1,500,000 Common Shares, representing 8.82% of the issued and outstanding Common Shares, and, directly, Options to acquire 850,000 Common Shares. Assuming the exercise of all Options held by Mr. Tapscott, he will own 2,350,000 Common Shares representing 13.17% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.
The Options were granted to Mr. Fox, Mr. Wilson and Mr. Tapscott as part of the compensation program of the Corporation.
The Corporation is located at Suite 800, 333 - 7th Avenue SW, Calgary, Alberta, T2P 2Z1.
Reports respecting these acquisitions will be filed with the applicable securities commissions using the System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Corporation's profile at www.sedar.com.
For further information or to obtain copies of the early warning reports, please contact Alex Tapscott, President and Chief Executive Officer of the Corporation at 416 922-2822 or via email at atapscott@ninepoint.com.
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