Vancouver, British Columbia--(Newsfile Corp. - December 19, 2019) - This news release is issued by I-Pulse Inc. ("I-Pulse") pursuant to the early warning requirements of Canada's National Instrument 62-103 with respect to common shares and warrants of Sama Resources Inc. ("Sama").
I-Pulse, through its affiliate, HPX Ivory Coast Holdings Inc. ("HPX"), announces that it has acquired 17,857,143 common shares of Sama on exercise of warrants of Sama that HPX acquired on April 13, 2018. These common shares represent ownership and control of approximately 8.3% of the currently issued and outstanding common shares of Sama. The issuance of the common shares results in HPX owning or exercising control over 50,000,000 common shares of Sama, representing approximately 23.1% of the issued and outstanding common shares of Sama.
Immediately prior to this acquisition, I-Pulse had beneficial ownership and control over 32,142,857 common shares representing approximately 16.1% of the then-issued and outstanding common shares of Sama. I-Pulse now has actual beneficial ownership and control over 50,000,000 common shares, representing 23.1% of the currently issued and outstanding common shares of Sama. All of these common shares are beneficially owned and controlled by I-Pulse.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to Sama's profile on the SEDAR website (www.sedar.com), or contact Sam Kenny at (604) 689-8765. I-Pulse has an office c/o 654-999 Canada Place, Vancouver, British Columbia, Canada, V6C 3E1.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50977