HALIFAX, NS, June 18, 2024 /CNW/ - Precipice Holdings Limited ("Precipice") announces that it, together with its joint actors, has acquired 420,000 common shares ("Common Shares") of NL2 Capital Inc. (TSXV: NLII.P) ("NL2"), with its head office at 1300-1969 Upper Water Street, McInnes Cooper Tower – Purdy's Wharf, Halifax, Nova Scotia, B3J 3R7, representing approximately 2.21% of the Common Shares issued and outstanding. Precipice is a holding company incorporated under the laws of the Province of Nova Scotia owned and controlled by Chris Dobbin, President, CEO & CFO of NL2.
Between January 2, 2024 and June 14, 2024, Precipice and its joint actors acquired 420,000 Common Shares in the open market on the TSX Venture Exchange with purchase prices between $0.035 and $0.10 per share, for total consideration of $20,890 (the "Transaction"). The Common Shares acquired in the Transaction represent approximately 2.21% of the Common Shares issued and outstanding.
Before the Transaction, Precipice and its joint actors collectively controlled 2,500,000 Common Shares representing 13.18% of the outstanding Common Shares. Following completion of the Transaction, Precipice and its joint actors own and control 2,920,000 Common Shares or 15.39% of the outstanding Common Shares.
The purpose of the Transaction was for investment purposes. Precipice and its joint actors may, from time to time, increase or decrease their holdings of securities of NL2, depending on market and other conditions.
SOURCE Precipice Holdings Limited
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