Upon completion of the Offering and the Acquiror’s acquisition of an aggregate 760,000 Units of the Company, which when added to the securities previously held by the Acquiror increased the Acquiror’s holdings in the Company to 28,071,989 common shares representing approximately 10.6% of the outstanding common shares on an undiluted basis and 11.0% on a partially diluted basis.
The shares were purchased for investment purposes. The Acquiror has a long-term view of the investment and may acquire additional shares of the Company either on the open market or through private acquisitions or sell the shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
This news release is being issued as required by National Instrument 62-104 – Take-Over Bids and Issuer Bids and relates to the Company, whose head office is located at 1751 Wentworth Street, Unit 1, Whitby, Ontario L1N 8R6, and to the Acquiror. A copy of the Early Warning Report can be obtained at www.sedar.com under the Company’s profile, or by contacting Bob MacBean at 1751 Wentworth Street, Unit 1, Whitby, Ontario L1N 8R6, telephone: (416) 505-5854.
Contact:
Paul E. Orlin
Telephone: (917) 340-1369
The issuer is solely responsible for the content of this announcement.