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Acquisition of Shares of Sirona Biochem Corp.

Jun 28 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/28/13 -- Pathfinder Asset Management Limited ("Pathfinder") announced that on March 6, 2013 it acquired control or direction over a total of 6,000,000 units of Sirona Biochem Corp. ("Sirona") by way of a private placement for aggregate consideration of $600,000 or $0.10 per unit (the "Acquisition"). Each unit consisted of one common share in the capital of Sirona ("Common Share") and one common share purchase warrant in the capital of Sirona ("Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.15 per Common Share for a period of two years from the closing date of the private placement. The securities are subject to a four-month and one-day hold period.

As a result of the Acquisition, Pathfinder currently exercises control or direction over approximately 6.13% of the current total number of issued and outstanding Common Shares. In the event that all such Warrants are exercised, Pathfinder would exercise control or direction over a total of 12,000,000 Common Shares representing 11.56% of the current issued and outstanding Common Shares (assuming that Sirona issues no other securities).

The Acquisition was made by Pathfinder for investment purposes on behalf of client accounts over which it has discretionary trading authority. Pathfinder may, in the future, acquire additional securities of Sirona for investment purposes on its own behalf or on behalf of client accounts over which it has discretionary trading authority.

In addition, on March 6, 2013, Douglas B. Johnson, a director, senior officer and significant shareholder of Pathfinder, also acquired ownership of 6,000,000 units of Sirona on the same terms as the units acquired by Pathfinder as part of the Acquisition. As a result of this acquisition, Mr. Johnson currently owns or controls approximately 6.13% of the current total number of issued and outstanding Common Shares (or approximately 11.56% of the Common Shares that would be issued and outstanding upon the exercise of the warrants he owns (assuming that Sirona issues no other securities)). Mr. Johnson's acquisition was made for investment purposes only and Mr. Johnson may, in the future, acquire ownership and control over additional securities of Sirona for investment purposes.



Contacts:
For more information, or to obtain a copy of the
subject early warning report, please contact:
Ken Bancroft
c/o Suite 1320, 885 West Georgia Street
Vancouver, British Columbia, V6C 3E8
604.682.7312





Source: Marketwire


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