CALGARY, Alberta, Jan. 19, 2018 (GLOBE NEWSWIRE) -- Luigi Gino DeMichele (“DeMichele”) announces that previously unvested Options held by him became fully vested effective January 19, 2018 (the “Vesting Date”).
Immediately prior to the Vesting Date, DeMichele owned and exercised control over an aggregate of:
(a) 9,089,718 common shares in the capital of the Issuer (“Common Shares”);
(b) 2,500,000 warrants (the “Warrants”) exercisable to acquire one additional Common Share per Warrant; and
(c) 2,150,000 options of the Issuer (“Options”), of which 816,667 Options had vested.
Immediately prior to the Vesting Date, DeMichele owned or exercised control or direction over potentially 12,406,385 Common Shares, which would have represented approximately 9.13% of the issued and outstanding Common Shares following the conversion of all DeMichele’s Warrants and Options that had vested.
As a result of the Vesting Date, DeMichele continues to own and exercise control over the same securities of the Issuer noted above, with all of his Options having fully vested, resulting in DeMichele owning or exercising control or direction over potentially 13,739,718 Common Shares, which would represent approximately 10.02% of the issued and outstanding Common Shares following the conversion of all of DeMichele’s Options and Warrants.
General
This press 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 regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will appear with the Issuer’s documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting DeMichele at 403-648-9292.