Gravitas Financial Inc.

January 25, 2017 18:33 ET

Shareholder Early Warning News Release

TORONTO, ONTARIO--(Marketwired - Jan. 25, 2017) - Gravitas Financial Inc., Suite 1700 - 333 Bay Street, Toronto, Ontario M5H 2R2 (the "Offeror"), announces the following acquisitions of Ordinary Shares of Goldbelt Empires Limited (the "Issuer") as follows:

  • On January 9, 2017, the Offeror, through its wholly-owned subsidiary Ubika Corp., acquired 3,000,000 units ("Units") of the Issuer at a price of $0.05 per Unit. Each issued Units consists of one ordinary share in the capital of the Issuer ("Ordinary Shares") and one warrant, entitling the holder to purchase an Ordinary Share at an exercise price of $0.075 per Ordinary Share, expiring January 9, 2020. The Units were issued pursuant to a subscription agreement entered into between the Issuer and the Offeror as part of a larger private placement of the Issuer's securities.
  • On January 13, 2017 the Offeror, through its subsidiary Gravitas Securities Inc., acquired 2,000,000 Ordinary Shares of the Issuer at $0.05 per Ordinary Share as payment pursuant to a financial advisory services agreement dated November 7, 2016, between Gravitas Securities Inc. and the Issuer.

After giving effect to the acquisitions by the Offeror of 5,000,000 Ordinary Shares and 3,000,000 warrants of the Issuer, the Offeror has indirect ownership representing 13.4% of the issued and outstanding Ordinary Shares of the Issuer on an undiluted basis, and 19.9% assuming the warrants held by the Offeror are exercised.

The Offeror acquired these securities for investment purposes and has no present intention to acquire further securities of the Issuer, although it may in the future acquire or dispose of securities of the Issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System. A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com.

Contact Information

  • Vikas Ranjan
    President
    Gravitas Financial Inc.
    T 647.252.1674