Business
Early Warning Report Issued Pursuant to National Instrument 62-103 Acquisition of Shares of Must Capital Inc.
Toronto, Ontario--(Newsfile Corp. - July 30, 2019) - This press release is being disseminated ...
About this update from Must Capital, Inc.
[{"type":"text","content":"Early Warning Report Issued Pursuant to National Instrument 62-103 Acquisition of Shares of Must Capital Inc.Toronto, Ontario--(Newsfile Corp. - July 30, 2019) - This press release is being disseminated as required by National Instrument 62‐103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the \"Early Warning Report\") regarding the acquisition of securities of Must Capital Inc. (TSXV: MUST.H) (the \"Company\") by Scharfe Holdings Inc. (\"Scharfe\") of 488-1090 West Georgia Street, Vancouver BC V6E 3V7, Pacific West Mercantile Corp. (\"Pacific West\") of P.O Box 3566 Stn Terminal, Vancouver BC, V6B 3Y6, 2286252 Ontario Inc. (\"228\"), of 2955 Harvey Crescent, Mississauga ON, L5L 4V9, and 2444444 Ontario Inc. (\"244\"), of 333 Bay Street, Suite 1770, Toronto ON, M5H 2R2. The address of the Company's registered office is 121 King Street West, Suite 2150, Toronto, Ontario, M5H 3T9.Scharfe entered into a debt conversion agreement with the Company under which Scharfe agreed to settle $162,660.19 of indebtedness in exchange for 2,065,526 common shares in the capital of the Company. Following the transaction, Scharfe and its affiliates beneficially own 3,498,261 common shares in the capital of the Company, representing approximately 18.00% of the issued and outstanding securities of the Company on an undiluted basis. Before the transaction, Scharfe and its affiliates beneficially owned 1,432,725 common shares in the capital of the Company, representing approximately 10.77% of the issued and outstanding securities of the Company on an undiluted basis.Pacific West entered into a debt conversion agreement with the Company under which Pacific West agreed to settle $151,500.00 of indebtedness in exchange for 1,923,810 common shares in the capital of the Company. Following the transaction, Pacific West and its affiliates beneficially own 2,479,366 common shares in the capital of the Company, representing approximately 12.75% of the issued and outstanding securities of the Company on an undiluted basis. Before the transaction, Pacific West and its affiliates beneficially owned 555,556 common shares in the capital of the Company, representing approximately 4.18% of the issued and outstanding securities of the Company on an undiluted basis.228 an...