15:49:45 EST Mon 06 Dec 2021
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Kaizen Discovery Inc
Symbol KZD
Shares Issued 510,221,487
Close 2021-10-01 C$ 0.045
Recent Sedar Documents

Kaizen investor I-Pulse acquires 148.06 million shares

2021-10-04 16:45 ET - News Release

Mr. Sam Kenny of I-Pulse reports

EARLY WARNING REPORT FILED PURSUANT TO CANADA'S NATIONAL INSTRUMENT 62-103 ACQUISITION OF SHARES OF KAIZEN DISCOVERY INC. PURSUANT TO DEBT SETTLEMENT

This news release is 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 announces that further to Kaizen's Sept. 30, 2021, news release, it has acquired ownership and control over an additional 148,062,778 common shares of Kaizen through its affiliate, Ivanhoe Electric (BVI) Inc. (IVNE), pursuant to the settlement of outstanding debt of $7,403,138.90 due from Kaizen to IVNE. The settlement shares represent 22.5 per cent of the current issued and outstanding common shares of Kaizen.

Following completion of the debt settlement, I-Pulse beneficially owns or exercises control and direction over 544,289,707 Kaizen shares, representing 82.7 per cent of the issued and outstanding Kaizen shares. Immediately prior to the debt settlement, I-Pulse had beneficial ownership and control over 396,226,929 Kaizen shares, representing approximately 77.7 per cent of the then issued and outstanding Kaizen shares.

Following the issuance of the settlement shares, I-Pulse has beneficial ownership and control over 544,289,707 Kaizen shares, representing 82.7 per cent of the current issued and outstanding Kaizen shares, and is deemed to beneficially own an additional 38,195,378 Kaizen shares issuable upon exercise of warrants to purchase Kaizen shares held by IVNE, which, if exercised, would result in ownership of approximately 83.6 per cent of the then issued and outstanding Kaizen shares on a partially diluted basis. All of these securities are beneficially owned and controlled by I-Pulse through its affiliate, IVNE.

I-Pulse is acquiring the settlement shares for investment purposes, and subject to the rules of the TSX Venture Exchange and applicable securities laws, I-Pulse may, depending on market and other conditions, increase or decrease its beneficial ownership of Kaizen's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

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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