Pepcap Resources, Inc.
TSX VENTURE : WAV

June 30, 2015 17:31 ET

Pepcap Resources, Inc. Announces Transfer of Common Shares

CALGARY, ALBERTA--(Marketwired - June 30, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Pepcap Resources, Inc. (TSX VENTURE:WAV) (the "Corporation" or "Pepcap") announces that the transfer and registration of an aggregate of 18,849,600 common shares of the Corporation ("Common Shares") from JMC Corporation Limited ("JMC") into the names of its principals has been completed (the "Share Transfers"). Pursuant to the Share Transfer, 14,137,200 Common Shares (of which 12,723,480 Common Shares are held in escrow) were transferred to Mr. Alan Kwan, a principal of JMC and 4,712,400 Common Shares (of which 4,241,160 Common Shares are held in escrow) were transferred to Ms. Margaret Wee, a principal of JMC and a director of the Corporation. The Share Transfers with respect to the Common Shares held in escrow have been accepted by the TSX Venture Exchange ("Exchange"), and will be completed in accordance with the terms of the Form 5D - Value Security Escrow Agreement (the "Escrow Agreement") dated May 19, 2015 between the Corporation, Computershare Trust Company of Canada and the undersigned securityholders to the Escrow Agreement. The Common Shares subject to escrow will remain in escrow in accordance with the terms of the Escrow Agreement.

As a result of the purchase of the Share Transfers, Mr. Kwan now owns or has control over 14,137,200 Common Shares, representing 38.4% of the issued and outstanding ordinary shares of Pepcap and Ms. Wee now owns or has control over 4,712,200 Common Shares, representing 12.8% of the issued and outstanding ordinary shares of Pepcap. Mr. Kwan and Ms. Wee have each filed a report under National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers in connection with the Share Transfers.

Additional Information

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has in any way passed upon the merits of the Qualifying Transaction and associated transactions and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pepcap Resources, Inc.
    Clark Swanson
    (323) 899-2518