TORONTO, ONTARIO--(Marketwire - Feb. 29, 2012) - Frontier One Company Ltd. ("Frontier") confirms that Mr. James McGlone has acquired legal and beneficial ownership of all securities in the capital of Frontier pursuant to a securities purchase agreement concluded on February 29, 2012 ("Transaction"). Frontier is the holder of 35,033,922 common shares ("Arius3D Shares") in the capital of Arius3D Corp. ("Arius3D" or the "Company") and warrants to purchase 19,480,293 additional Arius3D Shares (collectively, the "Frontier Securities).
Mr. McGlone owns or has direction or control over 4,944,989 Arius3D Shares, options to acquire 2,075,000 Arius3D Shares and warrants to purchase 2,187,118 additional Arius3D Shares (collectively, the "JM Securities"), representing approximately 7.36% of the issued and outstanding common shares of the Company (on a partially diluted basis - i.e. assuming no options and warrants were exercised by holders other than Mr. McGlone) and 4.09% of the issued and outstanding common shares (assuming no warrants or options are exercised).
Following the purchase and sale of securities in the capital of Frontier, Mr. McGlone owns or has direction or control over the Frontier Securities and the JM Securities, being an aggregate of 39,978,911 Arius3D Shares, options to acquire 2,075,000 Arius3D Shares and warrants to purchase 21,667,411 additional Arius3D Shares, which represent approximately 44.08% of the issued and outstanding common shares of the Company (on a partially diluted basis - i.e., assuming no options and warrants were exercised by holders other than Mr. McGlone and Frontier) and 33.09% of the issued and outstanding common shares (assuming no warrants or options are exercised).
Frontier will continue to have full voting and dispositive power over the Arius3D Shares it holds.
Mr. McGlone acquired the securities in the capital of Frontier for investment purposes. Depending on market conditions and other factors, Mr. McGlone may, in his personal capacity, from time to time acquire additional securities of the Company, continue to hold securities of the Company or dispose of some or all of the JM Securities in the open market, by private agreement or otherwise. Frontier does not have a current intention to acquire ownership of, or control or direction over, additional securities of the Company. Frontier may dispose of such Frontier Securities as are, from time to time, released from escrow.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
Contact Information:
jim@arius3d.com