Vancouver, British Columbia–(Newsfile Corp. – April 1, 2021) – Red Roof Capital Inc. (“RRC“) announced today that it has acquired (the “Acquisition“) 1,500,000 common shares (the “Purchased Shares“) of 1246775 B.C. Ltd. (“775“) from 1261648 B.C. Ltd. (“648“) at a price of $0.00003 per Purchased Share for an aggregate purchase price of $45 pursuant to a share purchase agreement entered into between RRC and 648 on March 31, 2021:
Prior to the Acquisition, RRC held nil (0%) common shares of 775. As a result of the Acquisition, RRC now holds 1,500,000 (50%) common shares of 775. RRC acquired the Purchased Shares for private investment purposes and may increase or decrease its beneficial ownership or control in 775 as circumstances or market conditions warrant.
The Acquisition was conducted in reliance on the “private agreement exemption” in section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids (“NI 62-104“) and as a result was exempt from the take-over bid requirements in Part 2 of NI 62-104. The Purchased Shares were purchased from fewer than 5 sellers and at a price less than 115% of the market price of the Purchased Shares, in each case as calculated in accordance with NI 62-104.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report will appear with 775’s documents on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
For further information or to request a copy of the early warning report, please contact:
Red Roof Capital Inc.
Attention: Barry Hildred
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79282