DAK Investments Corp.

March 30, 2015 12:20 ET

DAK Investments Corp. Acquires Shares of Blackline GPS

EDMONTON, ALBERTA--(Marketwired - March 30, 2015) - DAK Investments Corp. ("DAK") announces that it has acquired 1,600,000 common shares ("Common Shares") of Blackline GPS Corp. ("Blackline") pursuant to the exercise of 1,600,000 warrants ("Warrants") to purchase Common Shares at an exercise price of $1.50 per share.

The 1,600,000 Common Shares acquired by DAK pursuant to the exercise of the Warrants represents approximately 7.05% of the outstanding Common Shares, on a non-diluted basis. As a result of the exercise of the Warrants and the acquisition of Common Shares pursuant thereto, DAK, has ownership of 6,530,782 Common Shares (28.77% of the outstanding Common Shares on a non-diluted basis). After the exercise of the Warrants, DAK, including other companies under common control and direction with DAK by virtue of being under the control and direction of Darryl Katz (collectively the "Katz Group"), beneficially owns and controls an aggregate of 6,879,782 Common Shares (30.31% of the outstanding Common Shares on a non-diluted basis), an additional 1,304,348 warrants (the "Other Warrants") to purchase Common Shares and 250,000 options ("Options") to purchase Common Shares. If the Other Warrants and Options owned or controlled by the Katz Group were exercised in full, the Katz Group (including companies under common control and direction with DAK) would beneficially own and control an aggregate of 8,434,130 Common Shares (including the 1,600,000 Common Shares acquired pursuant to the exercise of the Warrants), representing approximately 34.78% of the then outstanding Common Shares (assuming no other Common Shares, other than the Common Shares issuable on exercise of the Other Warrants and Options owned by DAK had been issued from the date hereof).

DAK acquired the securities of Blackline referred to herein for investment purposes and may, in the future, increase or decrease its ownership of securities of Blackline, directly or indirectly, from time to time depending upon, among other things, the business and prospects of Blackline and future market conditions.

Except as set forth herein, the issuance of this news release is not an admission that an entity or individual named herein owns or controls any described securities or is a joint actor with another named entity or individual.

Contact Information

  • DAK Investments Corp.
    Daryl Katz
    (780) 990-0505
    1702 - 10104 103 Avenue
    Edmonton, Alberta T5J 0H8