VANCOUVER , Jan. 10, 2020 /CNW/ - Kevin Bird reports the acquisition of 3,500,000 common shares (the "Common Shares") of Interlapse Technologies Corp. (TSXV: INLA / OTCQB: INLAF) on December 20, 2019 at a price of CDN$0.10 per Common Share, for total consideration of CDN$350,000 , pursuant to a private placement (the "Private Placement").
Prior to the closing of the Private Placement, Mr. Bird held 4.03% or 706,868 of Interlapse's outstanding Common Shares. Upon completion of the Private Placement on December 20, 2019 , Mr. Bird acquired 3,500,000 Common Shares, resulting in Mr. Bird's ownership of approximately 16.81% or 4,206,868 of the Company's outstanding Common Shares.
Mr. Bird's acquisition of Common Shares from the Private Placement was solely for investment purposes, and Mr. Bird may from time to time in the future increase or decrease his ownership, control or direction over the Common Shares of Interlapse, through market transactions, private agreements or otherwise. The details of the Private Placement are disclosed in Interlapse's press release dated December 20, 2020 .
This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires an early warning report to be filed under Interlapse's profile on SEDAR (www.sedar.com) containing further information respecting the foregoing matters. A copy of the early warning report to which this press release relates can be obtained on the SEDAR profile of Interlapse at www.sedar.com.
SOURCE Interlapse Technologies Corp.
View original content: http://www.newswire.ca/en/releases/archive/January2020/10/c1895.html