TORONTO, July 17, 2018 (GLOBE NEWSWIRE) -- 2051912 Ontario Ltd. (the "Acquiror"), pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and applicable Canadian securities legislation, announces that, immediately following completion of the Transaction (defined below), the Acquiror has acquired 4,742,136 common shares of Clear Blue Technologies International Inc. (formerly, Dagobah Ventures Ltd.) (the "Issuer") representing approximately 13.6% of the issued and outstanding common shares of the Issuer. The Acquiror is controlled by Miriam Tuerk and John Tuerk, each of whom is a director and officer of the Issuer. Prior to the completion of the Transaction, the Acquiror held no securities of the Issuer.
The shares were acquired as part of the reverse takeover (the "Transaction") of the Issuer by Clear Blue Technologies Inc., which was completed on July 13, 2018, and the deemed value per share for the common shares issued by the Issuer in the Transaction was $0.80 per share.
The shares of the Issuer were acquired for investment purposes. The Acquiror will evaluate its investment in the Issuer from time to time and may, depending on various factors including, without limitation, the Issuer's financial position, the price levels of the common shares of the Issuer, conditions in the securities markets and general economic and industry conditions, the Issuer's business or financial condition, and other factors and conditions that the Acquiror may deem appropriate, increase, decrease or change its ownership over the common shares or other securities of the Issuer in the future but has no current plans or future intentions to do so.
An early warning report pursuant to the requirements of applicable securities laws will be issued by the Acquiror and will be posted to www.SEDAR.com and available on request at the number and address below.
Further information on the Transaction can be found in the Issuer’s listing application, dated July 12, 2018, filed under the Issuer’s profile on SEDAR at www.sedar.com.
For further information, including a copy of the early warning report required under applicable Canadian securities laws to be filed by the Acquiror as a result of the transaction referred to in this press release, please contact:
Miriam Tuerk
T: 416-433-3952
miriam@clearbluetechnologies.com