Each Unit is comprised of one common share and one share purchase warrant, with each whole warrant exercisable into one common share of the Company for a period of 12 months at an exercise price of
The 800,000 common shares and 800,000 warrants acquired by the Acquiror (the "Transaction") represent approximately 2% (basic) and 4% (partially diluted, assuming the exercise of the Acquiror's warrants) of the issued and outstanding Common Shares of the Company. Immediately following the Transaction, the Acquiror now owns and controls 3,450,000 common shares and 3,450,000 warrants of the Company, representing approximately 8% (basic) and 15% (partially diluted, assuming the exercise of the Acquiror's warrants) of the issued and outstanding Common Shares of the Company.
The Acquiror acquired the Units pursuant to the Transaction for investment purposes. The Acquiror has no present intention to acquire ownership of, or control over, additional securities of the Company, but may choose to acquire additional securities of the Company in the future for investment purposes.
This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by the Acquiror in connection with the acquisition of the Common Shares is available on the Company's SEDAR profile, and it can also be obtained directly from the Acquiror by contacting him at the number shown above.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ernesto EchavarriaBlvd Pedro Ma Anaya #1225, Culiacan Sinaloa, Mexico80040 604-687-3520 Source: Ernesto Echavarria