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Kaizen Discovery Inc
Symbol KZD
Shares Issued 317,254,821
Close 2020-12-23 C$ 0.045
Recent Sedar Documents

Kaizen investor HPX TechCo acquires 26 million units

2020-12-29 00:11 ET - News Release

Mr. Sam Kenny of I-Pulse reports

EARLY WARNING REPORT FILED PURSUANT TO CANADA'S NATIONAL INSTRUMENT 62-103 WITH RESPECT TO ACQUISITION OF COMMON SHARES AND WARRANTS OF KAIZEN DISCOVERY INC.

This news release has been issued by I-Pulse Inc. pursuant to the early warning requirements of Canada's National Instrument 62-103 with respect to common shares of Kaizen Discovery Inc.

I-Pulse, through its affiliate, HPX TechCo Inc., announces that on Dec. 15, 2020, it acquired 26 million units of Kaizen, with each such unit consisting of one Kaizen common share and one warrant to acquire a Kaizen common share for 7.5 cents for a period of 24 months. The 26 million common shares acquired represent ownership and control of 7.6 per cent of the currently issued and outstanding common shares of Kaizen.

The acquisition of the 26 million units of Kaizen by HPX results in HPX owning or exercising control over 251,420,798 common shares of Kaizen, representing 73.2 per cent of the issued and outstanding common shares of Kaizen, not including any common shares issuable upon exercise of the 48.1 million warrants now held by HPX.

Immediately prior to the purchase, I-Pulse had beneficial ownership and control over 225,420,798 common shares, representing approximately 71 per cent of the then issued and outstanding common shares of Kaizen. I-Pulse now has actual beneficial ownership and control over 251,420,798 common shares, representing 73.2 per cent of the currently issued and outstanding common shares of Kaizen, and is deemed to beneficially own an additional 48.1 million common shares issuable upon the exercise of common share purchase warrants, representing an aggregate total of 76.4 per cent of Kaizen's then issued and outstanding common shares on a partially diluted basis. All of these securities are beneficially owned and controlled by I-Pulse.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to Kaizen's profile on the SEDAR website or contact Sam Kenny at 604-689-8765.

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