CALGARY, ALBERTA--(Marketwired - Dec. 15, 2015) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES
Mr. Clive J. Beddoe ("Mr. Beddoe") acquired beneficial ownership of 2,335,315 common shares and 2,335,315 common share purchase warrants of SQI Diagnostics Inc. ("SQI") in connection with the completion of a private placement offering of units of SQI ("Units") at a price of $0.40 per Unit. Each Unit is comprised of one common share and one common share purchase warrant. As a result of the acquisition, assuming the exercise of all common share purchase warrants beneficially owned by Mr. Beddoe, Mr. Beddoe beneficially owns an aggregate of 9,948,815 common shares, 8,822,815 common share purchase warrants and $400,000 principal amount of 10% secured debentures due January 30, 2020 of SQI, representing approximately 24.06% of the issued and outstanding common shares of SQI. The Units were acquired in reliance on the "accredited investor" exemption from the prospectus requirement contained in section 2.3 of National Instrument 45-106 Prospectus Exemptions. Mr. Beddoe has been a director of SQI since April 8, 2015.
Mr. Beddoe acquired beneficial ownership of the securities for investment purposes only. Depending on market and other conditions, Mr. Beddoe may from time to time in the future increase or decrease his ownership of or control or direction over, or exercise his current right to acquire, common shares or other securities of the issuer, through market transactions, private agreements or otherwise.
A copy of the report relating to this acquisition may be found on SQI's profile at www.SEDAR.com or may be obtained from Ryan Ogrodniczuk at 403-266-6203 or at Mr. Beddoe's address c/o Hanover Investments Corporation Ltd., 525-11th Avenue SW, Suite 302, Calgary, Alberta T2R 0C9.
The issuance of this news release is not an admission that an entity named in the news release owns or controls any described securities or is a joint actor with another named entity.
Contact Information:
403-266-6203