CALGARY, ALBERTA--(Marketwired - July 6, 2016) - 1320678 Alberta Inc. ("132") announces that it has disposed of 2,000,000 common shares ("Common Shares") of Vogogo Inc. (the "Issuer"), as a result of a share transfer agreement entered into by 132 on July 6, 2016 with the Issuer (the "Agreement"). The Agreement provided for, among things, the repurchase for cancellation, from 132, of 2,000,000 Common Shares by the Issuer (the "Share Repurchase"). 132 received an aggregate of $130,000 or $0.065 per Common Share as consideration for the Share Repurchase from the Issuer.
Prior to the Share Repurchase becoming effective, 132 owned and exercised control over an aggregate of 5,166,668 Common Shares, representing an interest of approximately 10.5% of the issued and outstanding Common Shares on June 30, 2016.
As a result of the Share Repurchase, 132 now owns and exercises control over an aggregate of 3,166,668 Common Shares, representing an interest of approximately 6.7% of the issued and outstanding Common Shares after giving effect to the cancellation of the Common Shares repurchased pursuant to the Share Repurchase. Immediately following the Share Repurchase, and subsequent cancellation of Common Shares purchased thereunder, there were 47,022,401 Common Shares issued and outstanding.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing 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 System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Robert Geoffrey Gordon at (403) 648-9292.
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