TORONTO, ON / ACCESSWIRE / December 27, 2018 / Vernon Lobo and Kilimanjaro Capital Inc. ("Kilimanjaro"), an entity controlled by Mr. Lobo (Mr. Lobo and Kilimanjaro, together, the "Acquiror") collectively, own: (i) 3,839,919 common shares (“Shares”) of EQ Inc. (“EQ”), representing 9.1% of EQ’s issued and outstanding Shares on a non-diluted basis; and (ii) 6,093,942 Shares and securities convertible into Shares, representing 13.7% of EQ’s issued and outstanding Shares on a partially-diluted basis.
(a) Mr. Lobo holds: (i) 2,439,919 Shares; (ii) 140,000 warrants, each exercisable for one Share at an exercise price of $0.13; (iii) 343,977 warrants, each exercisable for one Share at an exercise price of $0.60; (iv) options to purchase up to 200,000 Shares exercisable at an exercise price of $0.05 per Share; and (v) options to purchase up to 62,500 Shares at an exercise price of $0.76 per Share, collectively representing 7.4% of the issued and outstanding Shares, on a partially diluted basis; and
(b) Kilimanjaro holds: (i) 1,400,000 Shares; and (ii) 1,203,308 Warrants, each exercisable for one Share at an exercise price of $0.13; (iii) 304,238 Warrants, each exercisable for one Share at an exercise price of $0.60, collectively representing 6.63% of the issued and outstanding Shares, on a partially diluted basis.
Collectively, the Acquiror owns: (i) 3,839,919 Shares, representing 9.1% of the issued and outstanding Shares on a non-diluted basis; and (ii) 6,093,942 Shares and securities convertible into Shares, representing 13.7% of the issued and outstanding Shares on a partially-diluted basis.
The Shares held by the Acquiror were purchased and are presently being held for investment purposes. In the future, the Acquiror may acquire additional securities of the Issuer or dispose of such securities subject to a number of factors, including general market and economic conditions and other available investment and business opportunities.
A copy of the early warning report to be filed by the Acquiror will be available on SEDAR under the Issuer's profile on www.sedar.com.
This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release nor have they approved nor disapproved the content thereof.
For further information:
Vernon Lobo, 6300 Northam Drive, Mississauga, Ontario, L4V 1H7.
Peter Kanniah, Chief Financial Officer, EQ Inc. 1235 Bay Street, Suite 401, Toronto, Ontario, M5R 3K4, [email protected], www.eqworks.com.
SOURCE: EQ Inc.