TROIS-RIVIERES, QUEBEC--(Marketwired - May 30, 2017) - Stéphane Leblanc announced that he, indirectly through 9248-7792 Québec Inc. ("9248-7792"), was issued 700,000 common shares ("Shares") of Genius Properties Ltd. ("Genius") at a deemed price of $0.15 per Share for an aggregate of $105,000 being consideration for the sale of certain mining claims (the "Transaction") pursuant to previously announced definitive purchase and sale agreements dated April 5, 2017.
On February 1, 2017, Genius consolidated its issued and outstanding Shares on the basis of one post-consolidation Share for every five pre-consolidation Shares. As a result, Mr. Leblanc owned directly, or indirectly through 9248-7792, an aggregate of 3,065,806 Shares and 240,000 Options, representing approximately 17.33% of the then outstanding Shares, calculated on a partially diluted basis.
Upon completion of the Transaction, Mr. Leblanc owns, directly and indirectly through 9248-7792, an aggregate of 3,765,806 Shares and 240,000 Options, representing approximately 10.93% of Genius' 36,420,743 outstanding Shares, calculated on a partially diluted basis.
The securities of Genius were acquired in the ordinary course of business, for investment purposes only. Depending on market conditions and other factors, Mr. Leblanc may from time to time acquire additional securities of Genius, or continue to hold or dispose of some or all of the securities of Genius in the open market, by private agreement or otherwise.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
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