CALGARY, ALBERTA--(Marketwired - Nov. 20, 2016) - 1890321 Alberta Ltd. (the "Acquiror") announces that it has acquired, directly or indirectly, ownership and control of warrants (the "Warrants") to purchase an aggregate of 2,415,000 common shares of EQ Inc. ("Common Shares") from treasury through a private placement of notes and warrants which closed on November 18, 2016 (the "Private Placement"). The Acquiror paid a total of $345,000 to subscribe for $345,000 principal amount of promissory notes of EQ Inc. and Warrants to acquire 2,415,000 Common Shares at an exercise price of $0.08 per Common Share.
Prior to the Private Placement, the Aquiror did not hold any securities of EQ Inc. After giving effect to the Private Placement, the Acquiror exercises control and direction over Warrants to acquire 2,415,000 Common Shares, which, if exercised, would represent approximately 13.2% of the issued and outstanding Common Shares, which together with the 1,577,000 Common Shares held by the Acquiror's joint actors, would, collectively represent approximately 21.8% of the issued and outstanding Common Shares on a partially-diluted basis. The Acquiror acquired the Warrants for investment purposes and may, from time to time, on an individual or joint basis, acquire additional securities of EQ Inc., dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position. The Acquiror may discuss board appointments, mergers or strategic alternatives with EQ Inc.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONNECTION WITH THIS MATTER, PLEASE CONTACT:
|1890321 Alberta Ltd.
|1900, 520-3rd Avenue SW
|Calgary Alberta, T2P 0R3
|Attention: Vikram Seth
|Phone: (780) 965-8256
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