TORONTO, ONTARIO--(Marketwire - Sept. 5, 2012) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP"), has acquired 636,000 common shares ("Shares") of Lifebank Corp. ("Lifebank") since a take-over bid for all of the outstanding Shares was filed by Insception Biosciences Inc. with the securities regulatory authorities on August 20, 2012. The Shares were acquired through the facilities of the TSX Venture Exchange.
MMCAP now beneficially owns and MMAM exercises control and direction over 672,000 Shares of Lifebank, representing approximately 6.53% of the outstanding Shares based on 10,298,361 outstanding Shares as of August 27, 2012 as per Lifebank's Management Discussion and Analysis.
MMCAP has acquired such securities for investment purposes only. Depending on market conditions and other factors, MMCAP may from time to time acquire additional securities of Lifebank or dispose of such securities in the open market, by private agreement or otherwise.