08:03:41 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Blackline GPS Corp (2)
Symbol BLN
Shares Issued 17,608,664
Close 2014-02-14 C$ 1.25
Market Cap C$ 22,010,830
Recent Sedar Documents

Blackline GPS investor DAK acquires 1.3 million units

2014-02-18 18:08 ET - News Release

An anonymous director reports

DAK INVESTMENTS CORP. ACQUIRES SECURITIES OF BLACKLINE GPS

DAK Investments Corp. has acquired 1,304,348 units of Blackline GPS Corp. at a price of $1.15 per unit pursuant to a non-brokered private placement of units completed by Blackline on Feb. 12, 2014. Each unit comprises one common share in the capital of the corporation and one common share purchase warrant. Each warrant entitles the holder to acquire one common share for a period of 48 months following the date of issuance at an exercise price of $1.40 per share.

The 1,304,348 common shares issued to DAK pursuant to the offering represent approximately 6.3 per cent of the outstanding common shares, on a non-diluted basis. If the warrants acquired pursuant to the offering are exercised in full, the 1,304,348 common shares issued, together with the initial 1,304,348 common shares acquired in connection with the offering, would total 2,608,696 common shares, representing approximately 11.8 per cent of the outstanding common shares of Blackline (assuming no other common shares, other than the common shares issuable on exercise of the warrants owned by DAK, had been issued from the date hereof). Prior to the completion of the offering, DAK and other companies under common control and direction, beneficially owned and controlled a total of 3,673,000 common shares and 1.6 million warrants to purchase common shares. If the warrants acquired pursuant to the offering and the prior warrants previously owned by DAK were each exercised in full, DAK (including companies under common control and direction) would beneficially own and control a total of 7,881,696 common shares (including the 1,304,348 common shares acquired pursuant to the offering), representing approximately 33.4 per cent of the outstanding common shares of Blackline (assuming no other common shares, other than the common shares issuable on exercise of the warrants and prior warrants owned by DAK had been issued from the date hereof).

DAK acquired the securities of Blackline referred to herein for investment purposes. DAK may, in the future, increase or decrease its ownership of securities of Blackline, directly or indirectly, from time to time depending upon, among other things, the business and prospects of Blackline and future market conditions.

In connection with the completion of the offering, DAK has been provided the right to nominate a mutually agreeable individual to serve on the board of directors of Blackline, subject to customary conditions and approvals, including maintaining a significant equity interest in Blackline.

An early warning report for DAK will be filed on SEDAR.

© 2024 Canjex Publishing Ltd. All rights reserved.