VANCOUVER, British Columbia, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Pathfinder Asset Management Limited (“Pathfinder”) of 1320, 885 West Georgia Street, Vancouver, British Columbia, announces that on December 2, 2017 it acquired 4,200,000 common shares of BioHEP Technologies Ltd. (the “Company”) of 1320, 885 West Georgia Street, Vancouver, British Columbia, pursuant to the conversion of $105,000 aggregate principal amount of convertible promissory notes (the “Notes”) due December 2, 2017 (the “Conversion”), as further described below.
The Notes were convertible at a rate of $0.025 per common share (“Share”) of the Company. Accordingly, the conversion of the $105,000 principal amount of Notes resulted in the acquisition by Pathfinder of an additional 4,200,000 Shares of the Company, representing approximately 44.45% of the 9,448,708 now issued and outstanding common shares of the Company. Prior to the Conversion, Pathfinder owned or controlled 1,590,353 Shares, representing 37.86% of the outstanding Shares. The Conversion results in a net increase in Pathfinder’s security holding percentage of 39.59% to a total of 5,790,353 Shares, representing approximately 61.28% of the issued and outstanding Shares of the Company as of today’s date.
Pathfinder acquired the Shares for investment purposes only and not for the purposes of exercising control or direction over the Company. Pathfinder may, in the future, increase or decrease its ownership of securities of the Company from time to time depending upon market conditions or any other factors it considers relevant.
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 (“NI 62-103”). Also pursuant to 62-103 an early warning report with respect to the above transactions will be filed with the relevant Canadian securities regulatory authorities via SEDAR and will be available for review at www.sedar.com under the Company’s profile. A copy of the report may also be obtained by contacting Victor Chan at Pathfinder at 604-682-7312 EXT 234.
Pathfinder Asset Management Limited
604-682-7312