Lark Investments Inc.

June 26, 2017 07:30 ET

Lark Investments Inc. announces investment in Snipp Interactive Inc.

TORONTO, ONTARIO--(Marketwired - June 26, 2017) - In its press release dated May 19, 2017, Lark Investments Inc. ("Lark Investments") announced that it acquired ownership and control of 4,000,000 common shares of Snipp Interactive Inc. ("Snipp") pursuant to a private placement and subscribed for an additional 21,000,000 common shares of Snipp, subject to Snipp obtaining shareholder approval for such issuance.

On June 16, 2017, Snipp obtained shareholder approval for such issuance, and on June 23, 2017 Lark Investments completed its acquisition of the additional 21,000,000 common shares of Snipp resulting in the beneficial ownership and control of an aggregate of 48,152,060 common shares of Snipp representing approximately 27.49% of Snipp's issued and outstanding common shares after giving effect to an aggregate of 28,488,000 common shares of Snipp issued pursuant to the completion of the second tranche of the private placement by Snipp.

Lark Investments continues to be an insider of Snipp and retains, among other things, participation rights in future Snipp financings and the right to nominate one person to serve as a member of Snipp's board.

Lark Investments acquired the common shares for investment purposes. Depending on market conditions and other factors, Lark Investments may from time to time acquire and/or dispose of securities of Snipp or continue to hold its current position.

A copy of the early warning report to be filed by Lark Investments in connection with the investment will be available on Snipp's profile on SEDAR at www.sedar.com.

Contact Information

  • Lark Investments Inc.
    Ali Ebrahim
    President
    220 Duncan Mill Road, Suite 615
    Toronto, Ontario, M3B 3J5
    (416) 444-0544 ext. 254