1344341 B.C. LTD. ANNOUNCES COMPLETION OF PRIVATE PLACEMENT AND OPTION
VANCOUVER, BRITISH COLUMBIA, CANADA, June 21, 2023/EINPresswire.com/ -- 1344341 B.C. Ltd. (the “Company”) announces that it has closed a non-brokered private placement, raising aggregate gross proceeds of $1.00 through the issuance of 36 common shares in the capital of the Company (the “Common Shares”) at a price of $0.02777778 per Common Share (the “Offering”). In connection with the Offering 2578218 Ontario Ltd. (“257 Ontario”), a company with a head office in Toronto, ON, acquired 36 Common Shares representing 50% of this issued and outstanding Common Shares on a non-diluted and partially diluted basis, being that the Company has no outstanding convertible securities.
Early Warning Disclosure
Prior to the completion of the Offering, 257 Ontario held and beneficially owned, or exercised control or direction over no Common Shares. Following the completion of the Offering, 257 Ontario holds and beneficially owns, or exercises control or direction over 36 Common Shares, representing 50% of the issued and outstanding Common Shares on a non-diluted and partially diluted basis.
The Company has been advised that 257 Ontario (the “Reporter”) holds its Common Shares as part of a strategic investment in the Company. The Reporter intends to review its holdings in the Company on a continuing basis and may purchase or sell Common Shares in the future, either on the open market or in private transactions, in each case, depending on a number of factors. The Reporter may formulate other purposes, plans or proposals regarding the Company or any of its securities or may change its intention with respect to any and all matters. The Reporter, in consultation with the Company, may also propose or seek to effect certain corporate transactions involving the Company.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the applicable securities commissions or similar regulatory authorities in Canada, which report will contain additional information with respect to the foregoing matters (the “Early Warning Reports”). Copies of the Early Warning Reports will be filed on SEDAR under the Company’s profile at www.sedar.com, and may also be obtained by contacting Binyomin Posen at 647-982-2494.
On behalf of the Board,
Binyomin Posen
Director
For further information:
1344341 B.C. Ltd.
1000-595 Burrard Street
Vancouver, British Columbia V7X 1S8
Early Warning Disclosure
Prior to the completion of the Offering, 257 Ontario held and beneficially owned, or exercised control or direction over no Common Shares. Following the completion of the Offering, 257 Ontario holds and beneficially owns, or exercises control or direction over 36 Common Shares, representing 50% of the issued and outstanding Common Shares on a non-diluted and partially diluted basis.
The Company has been advised that 257 Ontario (the “Reporter”) holds its Common Shares as part of a strategic investment in the Company. The Reporter intends to review its holdings in the Company on a continuing basis and may purchase or sell Common Shares in the future, either on the open market or in private transactions, in each case, depending on a number of factors. The Reporter may formulate other purposes, plans or proposals regarding the Company or any of its securities or may change its intention with respect to any and all matters. The Reporter, in consultation with the Company, may also propose or seek to effect certain corporate transactions involving the Company.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the applicable securities commissions or similar regulatory authorities in Canada, which report will contain additional information with respect to the foregoing matters (the “Early Warning Reports”). Copies of the Early Warning Reports will be filed on SEDAR under the Company’s profile at www.sedar.com, and may also be obtained by contacting Binyomin Posen at 647-982-2494.
On behalf of the Board,
Binyomin Posen
Director
For further information:
1344341 B.C. Ltd.
1000-595 Burrard Street
Vancouver, British Columbia V7X 1S8
Binyomin Posen
1344341 B.C. Ltd.
+1 647-982-2494
bposen@plazacapital.ca
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