Mr. Mario Grech, shareholder, reports
EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103 IN RESPECT OF THE ACQUISITION OF UNITS OF RSI INTERNATIONAL SYSTEMS INC.
Mario Grech recently acquired 2,435,417 units of RSI International Systems Inc., with
each unit consisting of one common share and one-half share purchase warrant. Each whole warrant entitles the purchase of one additional common share of the company at 25 cents per share for 24 months following the date of issuance.
Mr. Grech currently holds 2,748,417 common shares and 1,435,208 warrants of RSI International, which represents 8.9 per cent of RSI International's currently outstanding common shares, and 12.9 per cent of RSI International's common shares on a
partially diluted basis assuming full exercise of the warrants.
The securities acquired by Mr. Grech referred to above are held for investment purposes. In the future, he may increase or decrease his ownership of securities of RSI International from time to time depending upon the business and future market
conditions.
A copy of the early warning report filed pursuant to Regulation 62-103 may be obtained on SEDAR.
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