03:13:25 EDT Mon 20 May 2024
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Biosenta CEO Gill acquires 1.25 million shares

2024-02-22 15:12 ET - News Release

Mr. Am Gill reports

AMARVIR GILL HOLDINGS IN BIOSENTA INC.

Amarvir Gill, the president, chief executive officer and a director of Biosenta Inc., has acquired 1.25 million common shares and 625,000 warrants to purchase common shares pursuant to a debt settlement transaction whereby Biosenta issued the 1.25 million shares and 625,000 warrants to settle $500,000 in debt owed to the acquiror.

Prior to the debt settlement transaction, the acquiror owned 3,764,380 shares, representing 13.61 per cent of the then issued and outstanding shares and had ownership of stock options to acquire 270,000 shares. If the options were to be exercised, the acquiror would have had ownership or control over 4,034,380 shares, representing 14.45 per cent of the then issued and outstanding shares, on a partially diluted basis.

Following the offering, the acquiror has control over 5,014,380 shares, representing 16.93 per cent of the issued and outstanding shares following the debt settlement transaction and has ownership of 625,000 warrants and 270,000 options. If the warrants and options are exercised, the acquiror will have ownership or control over 5,909,380 shares, representing 19.37 per cent of the currently issued and outstanding shares, on a partially diluted basis.

The acquiror does not have any current plans or future intentions which relate to or would result in any of the events, transactions or circumstances enumerated in paragraphs (a) to (k) in the early warning report filed with the press release.

In accordance with applicable securities laws, the acquiror may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments of Biosenta in the open market or otherwise, and acquiror reserves the right to dispose of any or all of its securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of Biosenta and other relevant factors.

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