Gardiner Roberts LLP

Gardiner Roberts LLP

April 25, 2012 16:15 ET

Gardiner Roberts LLP Announces Acquisition of 1,396,958 Units of Genesis Worldwide Inc.

TORONTO, ONTARIO--(Marketwire - April 25, 2012) - Gardiner Roberts LLP ("GR") announces that Genesis Worldwide Inc. ("Genesis" or the "Company") (NEX:GWW.H) has issued to GR 1,396,958 units ("Units") of Genesis in a private transaction. Each Unit consists of one common share (a "Common Share") of Genesis and one Common Share purchase warrant (a "Warrant") of Genesis. Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.11 at any time on or prior to April 24, 2013. The Units were issued at a deemed issue price of $0.0825 per Unit.

Following the issuance of the Units, on a partially-diluted basis, assuming only the conversion of the Warrants, GR beneficially owns 2,793,916 Common Shares of Genesis, representing approximately 15.01% of the issued and outstanding Common Shares of Genesis (on such partially-diluted basis).

The acquisition of the Units by GR was made for investment purposes. GR may in the future increase or decrease its ownership of securities of Genesis from time to time depending on such factors as the business and prospects of Genesis and future market conditions.

Contact Information

  • Gardiner Roberts LLP
    Paul Stoyan
    Chairman
    Scotia Plaza, 40 King Street West, Suite 3100
    Toronto, ON M5H 3Y2
    (416) 865-6611