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Braingrid Ltd
Symbol BGRD
Shares Issued 45,737,103
Close 2018-12-28 C$ 0.255
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Braingrid shareholder Kadonoff acquires 10M shares

2018-12-31 08:32 ET - News Release

Mr. Kenneth Kadonoff reports


Kenneth Kadonoff has filed an early warning report in respect of the acquisition, acting jointly with certain joint actors, of an aggregate of 10 million common shares and 1,790,902 options of Braingrid Ltd. (formerly Match Capital Resources Corp.), whose head office is located at 150 Bridgeland Ave., Suite No. 100, Toronto, Ont., M6A 1Z5. The common shares acquired by the acquiror were acquired pursuant to the terms a business combination completed on Dec. 28, 2018, between the company and Braingrid Corp., as previously announced by the company. Each option is exercisable for one common share of the company at an exercise price of 0.5 cent per option. The common shares were issued at a deemed price of 40 cents per common share, for total deemed consideration of $4-million.

Prior to the filing of the early warning report, the acquiror and the joint actors had ownership of no common shares and no options of the company. Immediately following the business combination the acquiror, acting jointly, has ownership and/or control of 10 million common shares of the company, representing approximately 21.9 per cent of the issued and outstanding shares of the company. In addition, assuming exercise of all 1,790,902 options held by the acquiror and joint actors, the aggregate holdings of the acquiror and the joint actors would represent approximately 25.8 per cent of the issued and outstanding common shares of the company.

The common shares and options of the issuer were acquired by the acquiror and the joint actors in connection with the business combination. The acquiror may acquire additional securities of the issuer in the future depending on market prices and compliance with applicable securities laws. The acquiror has no current plans or intentions to increase his ownership of, or control or direction over, additional securities of the company.

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