U.S. Markets closed

Bradley A. Chislett acquires units of Northstar Electronics Inc.

ST. JOHN'S, NL , July 15, 2019 /CNW/ - Bradley A. Chislett announced that on September 30, 2018 he acquired via private placement 23,684,211 units of Northstar Electronics Inc. ("Northstar") (NEIK). Each unit was comprised of a common share of Northstar and half of one warrant, with each whole warrant entitling the holder to acquire an additional common share for USD$0.05 until September 30, 2020 . The acquisition resulted in a holding of 18.5% of the issued and outstanding common shares of Northstar, which would increase to 25.4% if all of the acquired warrants are exercised. The purchased units were acquired for aggregate consideration of Cdn$289,215 or Cdn$0.012 per purchased unit.

Mr. Chislett is not considered to be acting jointly and in concert with any other person who has control or direction over the voting shares of Northstar.  Mr. Chislett purchased the units for investment purposes.  Depending upon market conditions and other factors, Mr. Chislett may, from time to time, acquire additional voting shares or other securities of Northstar or dispose of some or all of the voting shares of Northstar as part of his investment activities.

Mr. Chislett is an individual residing in the province of Newfoundland and Labrador , and can be contacted as follows:

Bradley A. Chislett
C/O Stewart McKelvey
1100-100 New Gower Street, P.O. Box 5038
St. John's NL A1C 5V3

The head office of Northstar is:

Northstar Electronics Inc.
410-409 Granville Street
Vancouver, BC V6C 1T2

An early warning report will be electronically filed with the applicable securities commission in each jurisdiction where Northstar is reporting and will be available on SEDAR at www.sedar.com

 

SOURCE Stewart Mckelvey


View original content: http://www.newswire.ca/en/releases/archive/July2019/15/c1250.html