Toronto, Ontario--(Newsfile Corp. - April 24, 2020) - Francis Shen, President of Shen Capital Corp. and Director of MediaValet Inc. (the "Issuer"), filed an early warning report dated April 24, 2020 (the "Early Warning Report") advising of his holdings in the Issuer. The common shares of the Issuer are listed on the TSX Venture Exchange under the trading symbol "MVP".
On April 23, 2020, Mr. Shen acquired beneficial ownership and control of an aggregate of 2,857,143 common shares (the "Shares") of the Issuer pursuant to an exercise of warrants issued on September 10, 2019. The Shares were acquired at a price of $0.90 per share. The shares represent 9% of the issued and outstanding common shares of the Issuer. Following this acquisition, Mr. Shen beneficially owns and controls an aggregate of 5,771,286 common shares, representing approximately 18% of the issued and outstanding common shares of the Issuer. Mr. Shen may acquire further securities of the Issuer in the future.
This press release is issued pursuant to early warning requirements of National Instrument 62-104 and National Instrument 62-103, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Issuer's documents on the SEDAR website at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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