SOURCE: Hurorosh Partners Inc.

August 27, 2015 20:04 ET

Hurorosh Partners Inc.: Early Warning Report in Accordance With National Instrument 62-103

TORONTO, ON--(Marketwired - August 27, 2015) - On August 14, 2015, pursuant to a private placement, Hurorosh Partners Inc. ("Hurorosh") acquired ownership of 750,000 units (the "Units") of Keek Inc. (the "Corporation") at a price of $0.20 per Unit, with each Unit being comprised of one common share and one common share purchase warrants (each a "Warrant"), whereby each Warrant is exercisable into one common share (a "Common Share") in the capital of the Corporation at a price of $0.25 on or before August 14, 2018. The Common Shares and Warrants were issued by the Corporation in reliance upon Section 1.1(t) of the accredited investor exemption contained in Section 2.3 of National Instrument 45-106 - Prospectus and Registration Exemptions ("NI 45-106"). Pursuant to that exemption, the Common Shares are initially subject to a four-month hold period.

Prior to giving effect to the foregoing acquisition of securities, Hurorosh owned an aggregate of 1,000,000 units of the Corporation, with each unit being comprised of one common share and one common share purchase warrant, whereby each warrant was exercisable into one Common Share at a price of $0.40 per share on or before July 9, 2018 (the "July 9 Warrants"). Pursuant to the subscription agreement dated July 9, 2015, Hurorosh was granted price protection for a period of 12 months in the event additional securities were issued at a price below the price paid by Hurorosh. As a result, on August 14, 2015, Hurorosh was issued an additional 250,000 Common Shares for no additional consideration pursuant to the price protection provisions, and the Warrant certificate issued to Hurorosh was amended to increase the number of July 9 Warrants from 1,000,000 to 1,250,000 and to reduce the exercise price from $0.40 to $0.25 per share.

After giving effect to the acquisition of 750,000 units by Hurorosh, and the issuance of the 250,000 Common Shares and amendment to the July 9 Warrants pursuant to the price protection, Hurorosh owns or controls an aggregate of 2,000,000 Common Shares (or 11.9% of the issued and outstanding Common Shares (non-diluted)) and 2,000,000 Warrants.

In the future, Hurorosh may acquire additional securities of the Corporation, dispose of some or all of the securities it now owns or controls, or may continue to hold its current position.

The Common Shares of the Corporation are listed on the TSX Venture Exchange under the trading symbol "KEK".

Contact Information

  • For further information contact:
    Ron Hulse
    (416) 399-1575