TORONTO, ONTARIO--(Marketwire - March 28, 2013) -
(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)
Mr. Gordon McMillan of Oakville, Ontario announces that he has acquired ownership or control, directly or indirectly, over 12,876,500 common shares ("Common Shares") (TSX VENTURE:PTG) in the capital of Pivot Technology Solutions, Inc. (the "Corporation" or "Pivot") upon the exchange of 12,876,500 common shares of Pivot Acquisition Corp. in connection with the completion of the Corporation's TSX Venture Exchange qualifying transaction (the "Qualifying Transaction").
Mr. McMillan now beneficially owns, controls or has direction over, directly or indirectly, an aggregate of 12,876,500 Common Shares, representing approximately 19.67% of the Corporation's outstanding Common Shares. 10,300,000 of the Common Shares over which Mr. McMillan has control (which represents approximately 15.73% of the Corporation's outstanding Common Shares) are held by the McMillan Family Foundation, a charitable foundation of which Mr. McMillan is a director and officer.
Mr. McMillan acquired the Common Shares pursuant to the share exchange conducted in connection with the Corporation's Qualifying Transaction for investment purposes and may, depending on market and other conditions, increase or decrease his investment. The McMillan Family Foundation acquired the Common Shares pursuant to the share exchange conducted in connection with the Corporation's Qualifying Transaction for investment purposes and may, depending on market and other conditions, increase or decrease its investment.
Mr. McMillan became a director of Pivot on March 25, 2013 following the completion of the Corporation's Qualifying Transaction. All Common Share amounts contained in this news release are calculated post-completion of the Corporation's 8 for 1 consolidation of its Common Shares, which was approved by the Corporation's shareholders at the Corporation's last annual and special meeting of shareholders.
For further information or to obtain a copy of the early warning report regarding the information contained in this news release, please contact Gordon McMillan at (647) 788-2034.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.