Business
Early Warning Report Issued Pursuant to National Instrument 62-103-Acquisition of Securities of Mandala Capital Inc.
Early Warning Report Issued Pursuant to National Instrument 62-103-Acquisition of Securities of M...
About this update from Mandala Capital Inc
[{"type":"text","content":"\n \n \n \n Early Warning Report Issued Pursuant to National Instrument 62-103-Acquisition of Securities of Mandala Capital Inc.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX-V: MAN\n \n \n \n \n \n VANCOUVER\n \n , BC\n \n ,\n \n \n Feb. 13, 2023\n \n \n /CNW/ - This news release relates to the common shares (the \"\n \n Shares\n \n \") of Mandala Capital Inc. (\"\n \n Mandala\n \n \" or the \"\n \n Company\n \n \"). Patrick Sapphire (the \"\n \n Acquiror\n \n \") announces that on\n \n February 8, 2023\n \n , Principle Capital Partners Corporation (\"\n \n PCP Corp.\n \n \"), acquired 1,250,000 Shares of Mandala (the \"\n \n Distribution\n \n \") in connection with an initial public offering of 5,150,000 Shares at a price of\n \n $0.10\n \n per Share completed by the Company on\n \n February 8, 2023\n \n (the \"\n \n Offering\n \n \"). PCP Corp. is controlled by Mr. Sapphire by virtue of his control as a beneficial owner.\n \n \n Prior to the Offering, the Acquiror directly owned 600,000 Shares representing approximately 15% of the issued and outstanding Shares on a non-diluted basis. Following the closing of the Offering, the Acquiror has beneficial ownership over 1,850,000 Shares (comprised of the 600,000 Shares held by Mr. Sapphire in his personal capacity, and 1,250,000 Shares held by PCP Corp.) representing approximately 20.3% of the issued and outstanding Shares on a non-diluted basis.\n \n \n Mr. Sapphire continues to evaluate his holdings in the Company, including potentially disposing of additional securities in the ordinary course of business, but has no current plan or intentions which relate to any of the other actions requiring disclosure under the early warning reporting provisions of applicable securities laws. Depending on market conditions, Mr. Sapphire's view of the Company's prospects and other factors Mr. Sapphire considers relevant, Mr. Sapphire may acquire securities of the Company from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all...