Damodar Arapakota

May 17, 2016 13:13 ET

Imex Systems Inc. Early Warning Press Release

TORONTO, ONTARIO--(Marketwired - May 17, 2016) - IMEX SYSTEMS INC., pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues - and applicable Canadian securities legislation, announces that, immediately following completion of the Transaction (defined below), Damodar Arapakota has acquired, 12,500,000 common shares of Imex Systems Inc. (previously, Ba Ba Capital Inc.) (the "Issuer") representing approximately 63.3% of the outstanding common shares of the Issuer. The shares are held as follows: (i) 10,000,000 common shares in the name of The Arapakota 2006 Family Trust (the "Trust"); and (ii) 2,500,000 common shares which are subject to a performance escrow agreement the terms of which provide that they will be voted by Imex and not Mr. Arapakota while in escrow. Damodar Arapakota shares voting and dispositive control over the shares held by the Trust and as such, he may be deemed to beneficially own such shares.

The shares were acquired as part of the reverse takeover (the "Transaction") of the Issuer by Imex Systems Inc. and the deemed value per share for the common shares issued by the Issuer in the Transaction was $1.00 per share.

An Early Warning Report pursuant to the requirements of applicable securities laws will be issued by Mr. Arakapota and will be posted to www.SEDAR.com and available on request at the number and address below.

The transaction was previously announced and further details about the transaction are available in the listing application dated March 30, 2016 posted on www.SEDAR.com by the Issuer.

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