SOK Partners LLC, Joshua Kornberg and Dr. Samuel Herschkowitz

February 14, 2017 10:53 ET

EWR's Issued in Respect of the Disposition and Acquisition of Shares of PPK

TORONTO, ONTARIO--(Marketwired - Feb. 14, 2017) - SOK Partners LLC ("SOK"), Joshua Kornberg and Dr. Samuel Herschkowitz announced the following transactions in respect of common shares ("Common Shares") of Prospect Park Capital Corp. (TSX VENTURE:PPK) (the "Corporation").

On February 6, 2017, SOK acquired an additional 1,142,857 Common Shares pursuant to a share purchase agreement dated August 28, 2014 with the Corporation, as amended on April 29, 2016. Concurrently with such acquisition SOK transferred ownership of all of its Common Shares (2,447,204) equally to its beneficial owners (Joshua Kornberg and Dr. Samuel Herschkowitz).

Dr. Herschkowitz and Mr. Kornberg are the co-managing members and each 50% owners of a private company that is the managing member and sole beneficial owner of SOK.

Subsequent to the foregoing transactions:

  • SOK now holds, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, no Common Shares
  • Dr. Herschkowitz currently holds, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 2,084,351 Common Shares, and stock options exercisable for 558,227 Common Shares, representing approximately 21.2% of the currently issued and outstanding Common Shares (25.5% assuming his options have been exercised)
  • Mr. Kornberg currently holds, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 1,277,502 Common Shares, and stock options exercisable for 189,632 Common Shares, representing approximately 13.0% of the currently issued and outstanding Common Shares (14.7% assuming his options have been exercised)

No representation is made herein as to whether Dr. Herschkowitz and Mr. Kornberg are acting jointly or in concert.

This press release is being disseminated as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids in connection with the filing of early warning reports (the "Early Warning Reports") with the Ontario, British Columbia and Alberta Securities Commissions containing the information with respect to the foregoing matters. A copy of the Early Warning Reports will be filed shortly under the Corporation's profile on SEDAR (www.sedar.com) and a copy thereof shall be promptly sent to anyone who requests it from the person noted below.

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