Mr. Paul Kania reports
SOL GLOBAL INVESTMENTS CORP. ACQUIRES STOCK OF ATMOFIZER TECHNOLOGIES INC. TO INCREASE HOLDING TO 10.00%
On Dec. 20, 2021, SOL Global Investments Corp. acquired ownership of 62,500 common shares in the capital of Atmofizer Technologies Inc. (ATMO) on the Canadian Securities Exchange at an average price of $2.618 per common share. The completion of the transaction resulted in an increase from approximately 8.34 per cent to approximately 8.42 per cent in SOL Global's security holding percentage of the issued and outstanding common shares on a non-diluted basis. In addition, SOL Global owns 1,299,999 common share purchase warrants. Each warrant entitles the holder thereof to purchase one common share at an exercise price of $3.50 (U.S.)
for a period of 24 months from the date of issuance. Assuming that all of the warrants are each exercised immediately following the completion of the transaction for one common share, SOL Global would have owned approximately 10.00 per cent of the issued and outstanding common shares on a partially diluted basis.
The company acquired the securities reported herein for investment purposes. The company may, depending on market and other conditions, increase or decrease its beneficial ownership in ATMO's securities, whether in transactions over the open market, by privately negotiated arrangements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
This news release, and the early warning report filed in connection with the transaction, was filed late due to administrative error. Since the date of the transaction, SOL Global has continued to trade securities of ATMO in the ordinary course on the CSE. SOL Global's purpose for trading the ATMO securities, the manner in which it trades ATMO securities, and the overall volume and nature of trading has been conducted in the ordinary course since the date of the transaction. As of the date hereof, SOL Global holds approximately 9.0 per cent of the issued and outstanding common shares on a non-diluted basis. In addition, SOL Global owns 1,299,999 warrants as of the date hereof. Assuming that all of the warrants are each exercised for one common share, SOL Global owned approximately 10.58 per cent of the issued and outstanding common shares on a partially diluted basis.
This news release is being issued to comply with National Instrument 62-104 -- Take-Over Bids and Issuer Bids and National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report will be filed and available on SEDAR regarding the transaction.
About SOL Global Investments Corp.
SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. SOL Global's investment partnerships range from minority positions to large strategic holdings with active advisory mandates. The company's seven primary business segments include retail, agriculture, QSR (quick service restaurant) and hospitality, media technology and gaming, and new age wellness.
The company's head office is located at 100 King St. West, suite 5600, Toronto, Ont., M5X 1C9. ATMOS's head office is located at 550 Burrard St., suite 2300, Bentall 5, Vancouver, B.C., V6C 2B5.
We seek Safe Harbor.
© 2022 Canjex Publishing Ltd. All rights reserved.