04:13:14 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Rainmaker Entertainment Inc
Symbol RNK
Shares Issued 19,485,175
Close 2016-02-09 C$ 0.28
Market Cap C$ 5,455,849
Recent Sedar Documents

Rainmaker Entertainment holder Oakwest buys debentures

2016-02-09 17:19 ET - News Release

Mr. Robert Beutel of Oakwest reports

OAKWEST CORPORATION LIMITED ANNOUNCES ACQUISITION OF CONVERTIBLE DEBENTURES OF RAINMAKER ENTERTAINMENT INC.

Oakwest Corp. Ltd. has filed an early warning report announcing that, on Feb. 5, 2016, it acquired ownership and control over $483,000 principal amount of unsecured convertible debentures of Rainmaker Entertainment Inc. that, if converted, would represent approximately 12.1 per cent of the currently issued and outstanding common shares of the corporation on a partially diluted basis. The acquired securities were acquired pursuant to a private trade at a price of $1,200 per debenture. Concurrent with entering into the private agreement to purchase the acquired securities, Oakwest entered into a private agreement to sell 2,417,114 shares at a price of 24 cents per share.

Immediately following the transactions noted above, Oakwest owns $1,047,000 principal amount of debentures. Such debentures mature on March 31, 2016, and are convertible at any time prior to the maturity date into an aggregate 5,235,000 shares at a price of 20 cents per share. Assuming full conversion of the debentures, Oakwest would directly or indirectly exercise direction and control over an aggregate of 5,235,000 dhares, representing approximately 23 per cent of the then-issued-and-outstanding shares (on a partially diluted basis).

The acquired securities were acquired for investment purposes. Oakwest has a long-term view of the investment and does not intend at this time to acquire additional shares, but may acquire additional shares either on the open market or through private acquisitions, or sell the shares either on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other relevant factors.

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