4381874 Canada Inc.

October 10, 2013 16:30 ET

4381874 Canada Inc. Announces Acquisition of Shares of Global SeaFarms Corporation Under a Private Placement

MONTREAL, QUEBEC--(Marketwired - Oct. 10, 2013) - 4381874 Canada Inc. announced that it has acquired the ownership of 333,333 class A shares (the "Class A Shares") of Global SeaFarms Corporation ("Global SeaFarms"). The Class A Shares were acquired pursuant to a private placement made by Global SeaFarms of an aggregate of 8,515,487 Class A Shares at a price of $0.09 per Class A Share (the "Private Placement"). The Class A Shares were acquired for investment purposes.

After the completion of the Private Placement, 43811874 Canada Inc. owns a total of 32,664,753 Class A Shares, representing approximately 30.70% of the issued and outstanding Class A Shares of Global SeaFarms.

4381874 Canada Inc. had previously disclosed ownership over 32,081,420 Class A Shares, representing 45.55% of the then issued and outstanding Class A Shares of Global SeaFarms. At that time, there were 70,428,355 issued and outstanding Class A Shares of Global SeaFarms. As per the interim financial statements of Global SeaFarms for the period ended June 30, 2013, there were 97,864,851 issued and outstanding Class A Shares prior to the Private Placement.

This news release is being issued under the early warning provisions of Canadian provincial securities legislation.

Contact Information

  • 4381874 Canada Inc.
    Cameron McDonald
    (514) 825-0007