Calgary, Alberta--(Newsfile Corp. - March 20, 2024) - Pursuant to the early warning requirements of applicable Canadian securities laws, W. Brett Wilson reports that on March 19, 2024 he (indirectly through Prairie Merchant Corporation ("PMC"), a company owned and controlled by Mr. Wilson) acquired ownership and direction or control over 12,672,542 common shares ("Common Shares") of Hempalta Corp. (formerly Trail Blazing Ventures Ltd.) (the "Company"), at a deemed price of $0.17 per Common Share, and 312,500 Common Share purchase warrants ("Warrants") of the Company.
On March 19, 2024, the Company completed its Qualifying Transaction (as such term is defined in the policies of the TSX Venture Exchange) pursuant to which it (among other things): (i) acquired all of the issued and outstanding securities of Hempalta Inc. in exchange for securities consideration; and (ii) changed its name from "Trail Blazing Ventures Ltd." to "Hempalta Corp." (the "Transaction"). The Transaction is more fully described in the management information circular of the Company (under its previous name, Trail Blazing Ventures Ltd.) dated February 13, 2024, which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.
Immediately prior to the closing of the Transaction, Mr. Wilson (including PMC) did not hold any securities of the Company. As a result of the Transaction, Mr. Wilson has acquired ownership and direction or control over 12,672,542 Common Shares representing 15.37% of the 82,444,176 outstanding Common Shares of the Company on a non-diluted basis. Mr. Wilson also acquired ownership and direction or control over 312,500 Warrants, each entitling the holder thereof to acquire an additional Common Share for an exercise price of $0.20 per Common Share. If Mr. Wilson exercises the Warrants he owns, he will have ownership and direction or control over 12,985,042 Common Shares representing 15.69% of the 82,756,676 outstanding Common Shares of the Company calculated on a partially diluted basis.
Mr. Wilson (indirectly through PMC) acquired the Common Shares and the Warrants in connection with the Transaction and Mr. Wilson may, depending on market and other conditions, increase or decrease his ownership of the Common Shares and the Warrants or other securities of the Company whether in the open market, by privately negotiated agreement or otherwise.
Mr. Wilson's address is located at 933 - 17th Avenue SW, Seventh Floor, Calgary, Alberta T2T 5R6. The Company's head office is located at 1560 Hastings Crescent SE, Calgary, Alberta T2G 4E1. A copy of the early warning report to which this news release relates can be obtained from Mr. Wilson at (403) 705-7709 or on the Company's SEDAR+ profile at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202445
