Additionally, Orion announced today that
The Common Shares were issued to Orion Equity Co-Invest pursuant to the exchange of previously issued Subscription Receipts and the Placement Fee Shares were issued to Orion Equity Co-Invest by way of private placement for no additional consideration. Please see Orion's prior press release and early warning report filed
The Convertible Debentures were issued to Orion Convert Co-Invest by way of private placement at a price of
Orion has acquired the securities of Stornoway for investment purposes. Orion has no current plan or proposal which relates to, or would result in, acquiring additional ownership or control over the securities of Stornoway. Depending on market conditions, Orion's view of Stornoway's prospects and other factors considered relevant by Orion, Orion may acquire additional securities of Stornoway from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of Stornoway.
Orion's address is Canon's Court,
Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to Orion's future intentions regarding the securities of Stornoway. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Orion is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.