ABC Capital Management Inc. Reports Equity Interest in CR Capital Corp. (TSXV: CIT)
TORONTO, July 30, 2020 (GLOBE NEWSWIRE) — ABC Capital Management Inc. (“ABC”) filed an early warning report today in connection with the acquisition of 1,250,000 Units (hereinafter defined) of CR Capital Corp. (the “Company”) at C$0.08 per Unit for gross proceeds of C$100,000 (the “Acquisition”), as part of the Company’s non-brokered private placement (see the Company’s news releases dated July 2, 2020, July 3, 2020, July 20, 2020 and July 24, 2020). Each “Unit” acquired consists of one common share in the Company (a “Share”) and one common share purchase warrant in the Company (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share for C$0.10 until the date which is eighteen (18) months following the closing date of the offering, whereupon the Warrants will expire.
Prior to the Acquisition, ABC held Nil Shares, representing 0% of the Company’s issued and outstanding Shares on a partially diluted basis and 0% of the Company’s issued and outstanding Shares on a non-diluted basis.Following the Acquisition, ABC holds 1,250,000 Shares and 1,250,000 Share purchase warrants, representing 11.20% of the Company’s then issued and outstanding Shares on a partially diluted basis and 5.93% of the Company’s then issued and outstanding Shares on a non-diluted basis.In satisfaction of the requirements of 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 respecting the acquisition of securities by ABC has been filed under the Company’s SEDAR Profile at www.sedar.com.ABC acquired the Units for investment purposes only, and depending on market and other conditions, ABC may from time to time in the future increase or decrease their ownership, control or direction over securities of the Company, through market transactions, private agreements, or otherwise.ABC is incorporated under the laws of the Province of Ontario and its head office is located at 4100 Yonge Street, Suite 504, Toronto, Ontario M2P2B5. The principal business of ABC is a Management Fund.CR Capital Corp. is located at 82 Richmond Street East Toronto, Ontario M5C 1P1.The above-referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under the Company’s issuer profile.For further information or to obtain a copy of the early warning report, please contact Brian Howlett at the Company at 647-227-3035.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.