CALGARY, ALBERTA--(Marketwired - Apr 23, 2017) - 1890321 Alberta Ltd. (the "Acquiror") announces that it has acquired, directly or indirectly, ownership and control of warrants (the "$0.13 Warrants") to purchase an aggregate of 676,200 common shares of EQ Inc. ("Common Shares") at an exercise price of $0.13 per Common Share from treasury through a private placement of notes and warrants which closed on April 21, 2017 (the "Private Placement"). In addition, on April 21, 2017, EQ Inc. repaid $96,600 of promissory notes to the Acquiror and the Acquiror exercised warrants to acquire 1,207,500 Common Shares at $0.08 per Common Share ("$0.08 Warrants"). Prior to the Private Placement, the Acquiror did not hold any $0.13 Warrants.
After giving effect to the Private Placement, the exercise of 1,207,500 $0.08 Warrants and repayment of $96,600 principal of promissory notes, the Acquirer, together with its joint actors, directly or indirectly, holds 1,207,500 $0.08 Warrants, 676,200 $0.13 Warrants, 2,528,500 Common Shares and $345,000 principal amount of promissory notes. If the $0.08 Warrants and $0.13 Warrants were exercised, the Acquiror together with the joint actors, would exercise control and direction over approximately 4,412,200 Common Shares representing approximately 18.9% of the issued and outstanding Common Shares on a partially-diluted basis.
The Acquiror acquired the Warrants for investment purposes and may, from time to time, on an individual or joint basis, acquire additional securities of EQ Inc., dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONNECTION WITH THIS MATTER, PLEASE CONTACT:
1890321 Alberta Ltd.
1900, 520-3rd Avenue SW
Calgary Alberta, T2P 0R3
Attention: Vikram Seth
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.