Fam <isf@mercury.ca>
Subject: 1022119 B.C. LTD. ANNOUNCES ACQUISITION OF COMMON SHARES OF CHINOOKTYEE INDUSTRY LIMITED
PLAIN TEXT:
1022119 B.C. LTD. ANNOUNCES ACQUISITION OF COMMON SHARES OF
CHINOOK TYEE INDUSTRY LIMITED
September 27, 2016 { –} Vancouver, British Columbia: 1022119 B.C. Ltd. ("102BC") announced today that it has acq
--->uired ownership and control (the "Acquisition") of 1,349,950 common shares (the "Purchased Shares") in the capital of
--->Chinook Tyee Industry Limited ("Chinook"). The Purchased Shares were acquired pursuant to a debt settlement agreement
--->dated September 26, 2016 between 102BC and Peekaboo Beans Inc. (formally North Group Finance Limited) ("Peekaboo"), th
--->e previous holder of the Purchased Shares, whereby Peekaboo transferred the Purchased Shares and other assets to 102BC
---> in exchange for settling debt in the aggregate amount of $500,000 owed by Peekaboo to 102BC.. The Acquisition did no
--->t take place on a market.
Prior to the Acquisition, 102BC did not have ownership and control over any common shares of Chinook ("Chinook Shares"
--->). Following the Acquisition, 102BC attained ownership and control over 1,349,950 Chinook Shares, representing 39.6% o
--->f the outstanding Chinook Shares.
102BC acquired the Purchased Shares for investment purposes only, and will review its investment on an ongoing basis.
--->Upon such review, depending upon such factors that 102BC may, from time to time, deem relevant, 102BC may, among other
---> things, acquire additional securities of Chinook or dispose of some or all of the existing or additional securities o
--->f Chinook holds or will hold.
The exemption to the formal bid requirements that 102BC is relying on is the Private Agreement Exemption provided for
--->in section 4.2 of Part 4 of National Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104"). The Purchased S
--->hares were transferred to 102BC from a single securityholder of the Company, Peekaboo, and offers to purchase addition
--->al Chinook Shares were not made to or accepted from any other securityholders of Chinook. Additionally, the considerat
--->ion paid by 102BC, $0.138 per Purchased Share, is not greater than 115% of the market price for the Purchased Shares,
--->as determined in accordance with NI 62-104.
102BC is issuing this press release pursuant to the requirements of National Instrument 62-103. For further informatio
--->n, please contact:
Tom Kusumoto, President
1022119 B.C. Ltd.
416 - 375 Water Street,
Vancouver, B.C.
V6B 5C6
Telephone: 604-689-7565
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Vent
--->ure Exchange) accepts responsibility for the adequacy or accuracy of this release.
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt; font-weight: bold;
--->">1022119 B.C. LTD. ANNOUNCES ACQUISITION OF COMMON SHARES OF</span></p>
<p class="Normal" style="text-align: left; margin-top: 0pt; margin-bottom: 0pt; line-height: 12pt; font-family: Calibr
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt; font-weight: bold;
--->">CHINOOK TYEE INDUSTRY LIMITED</span></p>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt; font-weight: bold;
--->">September 27, 2016 {� �} Vancouver, British Columbia:</span><span class="Normal__Char" style="font-family: &q
--->uot;Times New Roman", Arial; font-size: 12pt;"> 1022119
B.C. Ltd. ("<span class="Normal__Char" style="font-size: 12pt; font-weight: bold;">102BC</span>") announced
---> today that it has acquired ownership and control (the "<span class="Normal__Char" style="font-size: 12pt; font-w
--->eight: bold;">Acquisition</span>") of
1,349,950 common shares (the "<span class="Normal__Char" style="font-size: 12pt; font-weight: bold;">Purchased S
--->hares</span>") in the capital of Chinook Tyee Industry Limited ("<span class="Normal__Char" style="font-size
--->: 12pt; font-weight: bold;">Chinook</span>").
The Purchased Shares were acquired pursuant to a debt settlement agreement dated September 26, 2016 between 102BC and
---> Peekaboo Beans Inc. (formally North Group Finance Limited) ("<span class="Normal__Char" style="font-size: 12pt;
--->font-weight: bold;">Peekaboo</span>"),
the previous holder of the Purchased Shares, whereby Peekaboo transferred the Purchased Shares and other assets to 10
--->2BC in exchange for settling debt in the aggregate amount of $500,000 owed by Peekaboo to 102BC. The Acquisition
---> did not take place on a market.</span></p>
<p class="Normal" style="margin-top: 0pt; margin-bottom: 10pt; line-height: 13pt; font-family: Calibri, Arial; font-si
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</p>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">Prior to the Acqu
--->isition, 102BC did not have ownership and control over any common shares of Chinook ("<span class="Normal__Char"
--->style="font-size: 12pt; font-weight: bold;">Chinook
Shares</span>"). Following the Acquisition, 102BC attained ownership and control over 1,349,950 Chinook Shares,
--->representing 39.6% of the outstanding Chinook Shares.</span></p>
<p class="Normal" style="margin-top: 0pt; margin-bottom: 10pt; line-height: 13pt; font-family: Calibri, Arial; font-si
--->ze: 11pt;">
</p>
<p class="Normal" style="margin-top: 0pt; margin-bottom: 0pt; line-height: 12pt; font-family: Calibri, Arial; font-siz
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">102BC acquired th
--->e Purchased Shares for investment purposes only, and will review its investment on an ongoing basis. Upon such review,
---> depending upon such factors that
102BC may, from time to time, deem relevant, 102BC may, among other things, acquire additional securities of Chinook
--->or dispose of some or all of the existing or additional securities of Chinook holds or will hold.</span></p>
<p class="Normal" style="margin-top: 0pt; margin-bottom: 10pt; line-height: 13pt; font-family: Calibri, Arial; font-si
--->ze: 11pt;">
</p>
<p class="Normal" style="margin-top: 0pt; margin-bottom: 0pt; line-height: 12pt; font-family: Calibri, Arial; font-siz
--->e: 11pt; text-align: justify;">
<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">The exemption to
--->the formal bid requirements that 102BC is relying on is the Private Agreement Exemption provided for in section 4.2 of
---> Part 4 of National Instrument
62-104 - Take-Over Bids and Issuer Bids ("<span class="Normal__Char" style="font-size: 12pt; font-weight: bold;"
--->>NI 62-104</span>"). The Purchased Shares were transferred to 102BC from a single securityholder of the Company,
--->Peekaboo, and offers to purchase
additional Chinook Shares were not made to or accepted from any other securityholders of Chinook. Additionally, the c
--->onsideration paid by 102BC, $0.138 per Purchased Share, is not greater than 115% of the market price for the Purchased
---> Shares, as determined
in accordance with NI 62-104.</span></p>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">102BC is issuing
--->this press release pursuant to the requirements of National Instrument 62-103. For further information, please contact
--->:</span></p>
<p class="Normal" style="margin-top: 0pt; margin-bottom: 10pt; line-height: 13pt; font-family: Calibri, Arial; font-si
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</p>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">Tom Kusumoto, Pre
--->sident</span></p>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">1022119 B.C. Ltd.
---></span></p>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">416 - 375 Water S
--->treet,</span></p>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">Vancouver, B.C.</
--->span></p>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">V6B 5C6</span></p
--->>
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<span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12pt;">Telephone: 604-68
--->9-7565</span></p>
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<a name="_GoBack"></a><span class="Normal__Char" style="font-family: "Times New Roman", Arial; font-size: 12
--->pt; font-style: italic;">Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
---> policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.</span></p>
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