TORONTO, ONTARIO--(Marketwired - Oct. 30, 2013) - Stephen Meehen (the "Offeror") announced that, effective October 25, 2013, the Offeror acquired direct and indirect ownership and control over 11,137,500 common shares (the "Shares") of Lorne Park Capital Partners Inc. ("LPCP" or the "Issuer") representing approximately 37.3% of the issued and outstanding Shares of the Issuer. The Offeror was also granted 500,000 stock options of LPCP to purchase 500,000 Shares at a price of $0.30 for a period of ten (10) years from the date of issuance.
The Offeror has direct ownership and control over 6,221,339 Shares of LPCP and indirect ownership and control over 4,916,161 Shares through JDI Bancorp Inc., a holding company controlled by the Offeror, which, when combined, represents approximately 37.3% of LPCP's outstanding Shares. The Offeror also directly owns 500,000 stock options exercisable for 500,000 Shares, which if fully exercised would, along with the Shares currently owned, directly or indirectly by the Offeror, represent approximately 39% of the issued and outstanding Shares of the Company on a partially diluted basis.
The 11,137,500 Shares were issued to the Offeror from treasury upon the completion of an amalgamation between Big Five Capital Corp. ("Big Five") and Bellwether Asset Management Inc. ("Bellwether") forming the Issuer (the "Amalgamation"), which, subject to TSX Venture Exchange final approval, will serve as Big Five's qualifying transaction. Pursuant to the Amalgamation, on the closing date, each Big Five Share became one common share of the issuer and each Bellwether share became one common share of the Issuer, at which time the Amalgamation became effective.
The Shares of the Issuer are held for investment purposes. The Offeror may, depending on market and other conditions, increase or decrease his beneficial ownership of securities of the Issuer, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
For further information or a copy of the early warning report filed in connection with this announcement, please contact:
Telephone: (905) 337-2227 Ext. 204
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