Toronto, Ontario--(Newsfile Corp. - December 20, 2024) - Bloom Burton & Co. Inc. (Bloom Burton) announces that, today, it acquired 1,692,250 common shares (Shares) of Satellos Bioscience Inc. (Corporation) in connection with a public offering of the Corporation by way of a prospectus supplement dated December 17, 2024 to the short form prospectus dated April 7, 2024. Bloom Burton purchased the Shares at a price of $0.90 per Share for total consideration of $1,523,025. Combined with former treasury issuances of Shares by the Corporation, this resulted in a decrease of beneficial holdings of approximately 3.7% of the outstanding Shares on a partially diluted basis since the date of the last early warning report.
Prior to this acquisition, Bloom Burton, its affiliates and Brian Bloom beneficially owned 8,708,568 Shares and 7,528,732 derivative securities (i.e., warrants, broker warrants, compensation options and stock options), representing approximately 7.6% of the outstanding Shares on a non-diluted basis and approximately 13.3% on a partially diluted basis assuming exercise of such derivative securities (including all of the stock options). After this acquisition, Bloom Burton, its affiliates and Brian Bloom beneficially own 10,400,818 Shares and 7,528,732 derivative securities, representing approximately 6.3% of the outstanding Shares on a non-diluted basis and approximately 10.3% on a partially diluted basis assuming exercise of such derivative securities (including all of the stock options).
The securities noted above are held for investment purposes. Bloom Burton has a long-term view of the investment and may acquire additional securities including either on the open market or through private acquisitions or sell the securities including either on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other relevant factors.
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