05:36:05 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Eight Solutions Inc
Symbol ES
Shares Issued 54,795,891
Close 2015-07-31 C$ 0.53
Market Cap C$ 29,041,822
Recent Sedar Documents

Eight Solutions investor Armes buys 2.84 million shares

2015-08-04 17:52 ET - News Release

Mr. Roderick Armes reports

NEWS RELEASE - EARLY WARNING REPORT ISSUED PURSUANT TO NI 62-103 ACQUISITION OF SECURITIES OF EIGHT SOLUTIONS INC.

On July 31, 2015, Roderick Armes acquired 2,847,738 common shares of Eight Solutions Inc. and a convertible debenture in the principal amount of $1.5-million bearing interest at 6 per cent per annum, maturing Jan. 27, 2018, and convertible into common shares of the issuer at a price of 55 per share. The shares and debenture were issued in settlement of an aggregate of $2,923,869 of indebtedness owed to the offeror.

After issuance of the shares, and assuming exercise of the debenture and 100,000 vested stock options, the offeror beneficially owns 10,909,936 common shares of the issuer, representing 19.9 per cent of the issued and outstanding common shares of the issuer based on the total issued and outstanding common shares of 54,795,891 as of the date hereof after giving effect to the conversion of the debenture and exercise of stock options.

The offeror acquired the shares and debenture that are the subject of this early warning report for investment purposes. The offeror may, depending on various factors, including, without limitation, market and other conditions, increase or decrease his beneficial ownership, control or direction over shares, the debenture or other securities of the issuer through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise. The shares and debenture are subject to statutory resale restrictions, which expire on Dec. 1, 2015.

In connection with this news release, the early warning report has been filed in accordance with applicable securities laws. A copy of the early warning report will be available for review under the issuer's profile on SEDAR.

This press release is being disseminated as required by National Instrument 62-103 in connection with the filing of an early warning report regarding the acquisition of securities of Eight Solutions pursuant to a debt settlement transaction.

© 2024 Canjex Publishing Ltd. All rights reserved.