Mr. Wilmot L. Matthews

December 15, 2015 17:46 ET

Mr. Wilmot L. Matthews: Acquisition of Units of SQI Diagnostics Inc.

TORONTO, ONTARIO--(Marketwired - Dec. 15, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES

Mr. Wilmot L. Matthews ("Mr. Matthews") 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. Matthews, Mr. Matthews beneficially owns an aggregate of 9,933,776 common shares, 8,285,315 common share purchase warrants and $1,000,000 principal amount of 10% secured debentures due January 30, 2020 of SQI, representing approximately 23.51% 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. Matthews has been a director of SQI since April 8, 2015.

Mr. Matthews acquired beneficial ownership of the securities for investment purposes only. Depending on market and other conditions, Mr. Matthews 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 Mr. Matthews at 416-214-2226 or at Mr. Matthews' address: 200 King Street West, Suite 1702, Toronto, Ontario M5H 3T4.

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

  • Mr. Wilmot L. Matthews
    416-214-2226