Toronto, Ontario--(Newsfile Corp. - May 20, 2025) - Bloom Burton & Co. Inc. (Bloom Burton) announces that, today, it exercised 3,200,000 common share purchase warrants (Warrants) of Satellos Bioscience Inc. (Corporation) at $0.50 per share for aggregate consideration of $1,600,000, and the remaining 3,360,474 unexercised Warrants expired. This resulted in a decrease of beneficial holdings to under 10%, requiring the filing of an early warning report in connection therewith.
Prior to this acquisition, Bloom Burton, its affiliates and Brian Bloom beneficially owned 10,400,818 Shares and 7,361,674 derivative securities (i.e., warrants, broker warrants, compensation options and stock options) 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). After today's exercise of Warrants and expiry of the remaining unexercised Warrants, Bloom Burton, its affiliates and Brian Bloom beneficially own 13,600,818 Shares and 801,200 derivative securities, representing approximately 8.0% of the outstanding Shares on a non-diluted basis and approximately 8.5% on a partially diluted basis assuming exercise of such derivative securities.
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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