Vancouver, British Columbia--(Newsfile Corp. - December 20, 2019) - Koby Smutylo ("KS") announces that he directly and indirectly owns and controls 2,000,000 common shares ("Common Shares") of Wolfpack Capital Corporation ("Wolfpack" or the "Company"), representing approximately 1.10% of the outstanding Common Shares on a non-diluted basis. This press release is being issued pursuant to Canadian early warning requirements because KS' disposition of Common Shares, as described below, has resulted in KS' beneficial holdings of Common Shares to decrease to less than 10% of the outstanding Common Shares.
On December 19, 2019, KS surrendered, indirectly, ownership of an aggregate of 30,000,000 (the "KS Shares") Common Shares of Wolfpack pursuant to a rectification agreement with the Company for no consideration. The KS Shares had been issued indirectly to 25010812 Ontario Inc. in error ("KS Holdco"). KS Holdco is a company controlled by KS, a former director and former Chief Executive Officer of Wolfpack. The 30,000,000 KS Shares were surrendered to the Company, and prior to the cancellation of the KS Shares, represented approximately 14.16% of the issued and outstanding Common Shares on a non-diluted basis.
The disposition and return to treasury of the KS Shares is exempt from formal bid requirements under section 4.7 of National Instrument 62-104 - Take-Over Bids and Issuer Bids as KS is a former executive officer and director of Wolfpack and KS Holdco is a former consultant of Wolfpack and there is no published market for the Common Shares.
KS has no current plans or intentions that relate to or would result in the items listed in (a) through (k) of Form 62-103F1. Depending on various factors including, without limitation, the Company's financial position, the price levels of the Common Shares of the Company, conditions in the securities markets and general economic and industry conditions, the Company's business or financial condition, and other factors and conditions KS may directly or indirectly acquire or dispose of additional securities in the future.
For further information please contact:
Mr. Koby Smutylo
A copy of the early warning report with respect to the foregoing will be filed on SEDAR and available on Wolfpack's SEDAR profile at www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51013