Fintech
Press Release Regarding Early Warning Reports
Calgary, Alberta–(Newsfile Corp. – November 6, 2020) – High Mountain 2 Capital Corporation (TSXV: HMCC.P) (the “Corporation“) announces the filing of early warning reports in connection with the previously announced completion of its initial public offering (the “Offering“) (see news release of November 5, 2020).
On November 5, 2020, directly following closing of the Offering, the Corporation issued to its directors and officers an aggregate of 570,000 options to purchase 570,000 common shares in the capital of the Corporation (“Common Shares“) at an exercise price of $0.10 per Common Share, expiring November 5, 2030 (collectively, the “Options“, and each, an “Option“).
The grant included 140,000 Options being issued to William A. Kanters, the President, Chief Executive Officer and a director of the Corporation, and 100,000 Options being issued to each of Dale Burstall, James W. Longshore and Gordon Winter, each a director of the Corporation (in addition, Mr. Burstall is the Corporation’s Corporate Secretary).
Prior to the acquisition, Mr. Kanters owned, indirectly, 600,000 Common Shares. Mr. Kanters now owns, indirectly, 600,000 Common Shares, representing 10.53% of the issued and outstanding Common Shares and Options to acquire 140,000 Common Shares. Assuming the exercise of all Options held by Mr. Kanters, he will own 740,000 Common Shares representing 12.67% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.
Prior to the acquisition, Mr. Burstall owned, indirectly, 500,000 Common Shares. Mr. Burstall now owns, indirectly, 500,000 Common Shares, representing 8.77% of the issued and outstanding Common Shares and the Option to acquire 100,000 Common Shares. Assuming the exercise of the entire Option held by Mr. Burstall, he will own 600,000 Common Shares representing 10.34% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.
Prior to the acquisition, Mr. Winter owned 500,000 Common Shares. Mr. Winter now owns 500,000 Common Shares, representing 8.77% of the issued and outstanding Common Shares and the Option to acquire 100,000 Common Shares. Assuming the exercise of the entire Option held by Mr. Winter, he will own 600,000 Common Shares representing 10.34% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.
Prior to the acquisition, Mr. Longshore owned 500,000 Common Shares. Mr. Longshore now owns 500,000 Common Shares, representing 8.77% of the issued and outstanding Common Shares and the Option to acquire 100,000 Common Shares. Assuming the exercise of the entire Option held by Mr. Longshore, he will own 600,000 Common Shares representing 10.34% of the issued and outstanding Common Shares.
The Options were granted to Mr. Kanters, Mr. Burstall, Mr. Winter and Mr. Longshore as part of the compensation program of the Corporation.
The Corporation is located at 1600, 333 – 7th Avenue S.W., Calgary, Alberta T2P 2Z1.
Reports respecting these acquisitions will be filed with the applicable securities commissions using the System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Corporation’s profile at www.sedar.com.
For further information or to obtain copies of the early warning reports, please contact William A. Kanters, President, Chief Executive Officer and a director of the Corporation at (403) 619-7118 or via email bkanters@telus.net.
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