TORONTO–(BUSINESS WIRE)–Effective as of May 22, 2020, Mr. Ron Pasek (the “Acquirer”) acquired ownership of 14,000,000 common shares (“Common Shares”) of Spectra7 Microsystems Inc. (“Spectra7” or the “Company”) (TSXV: SEV) through a private placement at a purchase price of C$0.025 per Common Share for an aggregate purchase price of C$350,000 (the “Purchase”).
As a result of the Purchase, the Acquirer has beneficial ownership of, or control or direction over, an aggregate of 58,962,701 Common Shares, representing approximately 10.67% of the issued and outstanding Common Shares on a non-diluted basis, and 65,344,530 Common Shares and other securities convertible into Common Shares within 60 days, representing approximately 11.69% of the issued and outstanding Common Shares on a partially-diluted basis. Immediately prior to the Transactions, the Acquirer had beneficial ownership of, or control or direction over 44,962,701 Common Shares, representing approximately 8.8% of the issued and outstanding Common Shares on a non-diluted basis, and 51,344,530 Common Shares and other securities convertible into Common Shares within 60 days, representing approximately 9.93% of the issued and outstanding Common Shares on a partially-diluted basis.
The Transaction represents a change in the Acquirer’s direct and indirect holdings of Common Shares of approximately 1.76% on a partially-diluted basis.
The Acquirer may increase or decrease his investment, directly or indirectly, in securities of the Company from time to time, depending on market conditions or any other relevant factors.
Spectra7 is located at 2550 North First Street, Suite 500, San Jose, California 95131. The Acquirer is located at 409 Tennant Station #521, Morgan Hill, CA 95037-7115. A copy of the early warning report to which this news release relates can be obtained on the SEDAR profile of Spectra7 at www.sedar.com. For further information please contact James Bergeron at 289-512-0541.
Contacts
James Bergeron, 289-512-0541
