Paolo Lostritto Acquires Shares from Sellers

Vancouver, British Columbia–(Newsfile Corp. – April 26, 2021) – Paolo Lostritto (“Lostritto“) announced today that they have acquired (the “Acquisition“) an aggregate of 660,000 common shares (the “Purchased Shares“) of 1287398 B.C. Ltd. (“398“) from each of R. Keast Family Holdings Inc. (“RKF“) (80,000 Purchased Shares), B. Keast Family Holdings Inc. (“BKF“) (290,000 Purchased Shares) and SFH Inc. (collectively with RKF and BKF, the “Sellers“) (290,000 Purchased Shares) pursuant to share purchase agreements entered into between Leisman and each Seller on April 23, 2021. The Purchased Shares were purchased at a price of $0.00003 per Purchased Share for an aggregate purchase price of $19.80.

Prior to the Acquisition, Lostritto held nil (0%) common shares of 398. As a result of the Acquisition, Leisman now holds 660,000 common shares (22%) common shares of 398. Lostritto acquired the Purchased Shares for private investment purposes and may increase or decrease their beneficial ownership or control in 398 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 398’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:
Paolo Lostritto
(416) 602-2645

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/81748