Toronto, Ontario–(Newsfile Corp. – June 9, 2021) – Mode Investments Corp. (the “Acquiror“) announces that on June 9, 2021 the Acquiror, together with El Be Investments Corp. (the “Joint Actor“), acquired 733,333 common shares (“Common Shares“) in the capital of 1290447 B.C. Ltd. (the “Company“) at $0.08 per Common Share for gross proceeds of $58,666.64 by way of a non-brokered private placement (the “Acquisition“). The Acquiror and the Joint Actor share the same beneficial owner.
Prior to the Acquisition, the Acquiror and the Joint Actor held no securities of the Company. As a result of the Acquisition, the Acquiror, together with the Joint Actor, holds an aggregate of 733,333 Common Shares, representing approximately 40% of the issued and outstanding Common Shares of the Company.
The Acquiror, together with the Joint Actor, acquired the Common Shares pursuant to the terms of subscription agreements on a private placement basis. The current intention of the Acquiror and the Joint Actor is to hold the Common Shares for investment purposes only and not with a view to materially effect control of the Company. Depending upon market conditions and other factors, and subject to compliance with applicable law, the Acquiror and the Joint Actor may, from time to time, acquire or dispose of additional shares of the Company, in the open market, by private agreement or otherwise, or acquire interests in or enter into related financial instruments involving a security of the Company.
For the purposes of National Instrument 62-103 – The Early Warning System and Related Take Over Bids and Insider Reporting Issues, the address of the Acquiror’s head office is 1111 Melville St, Unit #350, Vancouver, BC V6E 3V6.
1290447 B.C. Ltd. has its head office located at 47 Lakeshore Road East, Unit 201, Mississauga, Ontario L5G 1C9. A copy of the early warning report with respect to the forgoing will appear on the Company’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Leighton Bocking at (604) 307-8225.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87157