Lions Investment Ltd.

December 02, 2016 17:05 ET

Acquisition of Common Shares of EcoSynthetix Inc.

TORONTO, ONTARIO--(Marketwired - Dec. 2, 2016) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES

1614216 Ontario Inc., a corporation wholly owned by Lions Investment Ltd. ("Lions"), acquired 471,000 common shares of EcoSynthetix Inc. (the "Company") (representing 0.82% of the issued and outstanding common shares) on July 19, 2016 by way of a private agreement with a selling securityholder at a purchase price of $1.11 per common share. Immediately prior to the transaction, Lions, together with any joint actors, beneficially owned or exercised control or direction over, directly or indirectly, 12,338,484 common shares of the Company, representing approximately 21.62% of the issued and outstanding common shares of the Company. The normal course purchase exemption in Section 4.1 of National Instrument 62-104 was relied on in connection with the acquisition of common shares of the Company.

1614216 Ontario Inc. disposed of 250,000 common shares of the Company (representing 0.44% of the issued and outstanding common shares) on October 21, 2016 through the facilities of the Toronto Stock Exchange at a price of $2.40 per common share. Immediately following the transaction, Lions, together with any joint actors, beneficially owned or exercised control or direction over, directly or indirectly, 12,559,484 common shares of the issuer, representing approximately 22.00% of the issued and outstanding common shares of the issuer.

Lions and any joint actor acquired the common shares of the Company for investment purposes. Lions and any joint actor may increase or decrease its investment, directly or indirectly, in securities of the issuer from time to time, depending on the trading price of the common shares, market conditions or any other relevant factors.

A copy of the related early warning report may be found on the Company's profile at www.SEDAR.com or may be obtained from Andrew Needham, Director, Lions Investment Ltd. at 1.345.749.6102 or 802 West Bay Road, PO Box 30444, Grand Cayman, KY1-1202, Cayman Islands.

Contact Information

  • Lions Investment Ltd.
    Andrew Needham
    Director
    1.345.749.6102
    802 West Bay Road, PO Box 30444
    Grand Cayman, KY1-1202, Cayman Islands