Pathfinder Asset Management Limited

July 05, 2013 12:25 ET

Acquisition of Shares of Sirona Biochem Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2013) - Pathfinder Asset Management Limited ("Pathfinder") wishes to clarify and confirm its previously announced press release of June 28, 2013, whereby Pathfinder announced the acquisition of certain securities of Sirona Biochem Corp. ("Sirona").

On on March 6, 2013, Pathfinder acquired control or direction over a total of 6,000,000 units of Sirona Biochem Corp. by way of a private placement for aggregate consideration of $600,000 or $0.10 per unit (the "Acquisition"). Each unit consisted of one common share in the capital of Sirona ("Common Share") and one common share purchase warrant in the capital of Sirona ("Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.15 per Common Share for a period of two years from the closing date of the private placement. The securities are subject to a four-month and one-day hold period.

As a result of the Acquisition, Pathfinder currently exercises control or direction over approximately 6.13% of the current total number of issued and outstanding Common Shares. In the event that all such Warrants are exercised, Pathfinder would exercise control or direction over a total of 12,000,000 Common Shares representing 11.56% of the current issued and outstanding Common Shares (assuming that Sirona issues no other securities).

The Acquisition was made by Pathfinder for investment purposes on behalf of a discretionary client account managed by Pathfinder for Douglas B. Johnson, a director, senior officer and significant shareholder of Pathfinder. Although Pathfinder has control or direction over these securities, the securities are beneficially owned by Mr. Johnson. The June 28, 2013 news release inadvertently indicated that Mr. Johnson had also acquired an additional 6,000,000 units of Sirona (i.e., in addition to those acquired by Pathfinder as part of the Acquisition).

Pathfinder may, in the future, acquire additional securities of Sirona for investment purposes on its own behalf or on behalf of client accounts over which it has discretionary trading authority.

Contact Information

  • Ken Bancroft
    c/o Suite 1320, 885 West Georgia Street
    Vancouver, British Columbia
    V6C 3E8