This press release is issued pursuant to Multilateral 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.
TORONTO, March 14, 2019 (GLOBE NEWSWIRE) -- This news release, together with an early warning report, is being filed today by Doron Cohen as required under applicable Canadian securities laws as a result of a grant of incentive stock options (“Options”) made to Mr. Cohen by A-Labs Capital II Corp. (TSXV: ALAB.P) (the “Company”) on March 13, 2019. The Options have been granted in connection with the completion of the Company’s initial public offering on the TSX Venture Exchange on March 13, 2019 (the “IPO”) and Mr. Cohen’s appointment as Chief Executive Officer and director of the Company. Mr. Cohen was granted 114,000 Options to purchase 114,000 common shares in the capital of the Company (“Common Shares”) at an exercise price of $0.10 CAD per Common Share under the Company’s stock option plan.
Immediately prior to the grant of Options, Mr. Cohen beneficially owned or otherwise exercised control or direction over 2,000,000 Common Shares, which are registered to A-Labs Finance and Advisory Ltd., a corporation controlled by Mr. Cohen. Following the completion of the IPO, Mr. Cohen beneficially owns or otherwise exercises control or direction over 2,114,000 Common Shares (assuming the exercise of all the Options), representing 32.67% of the Common Shares issued and outstanding as at March 13, 2019 (on a fully diluted basis, assuming the exercise of all Options grant to all the officers and directors of the Company).
The Options are held by Mr. Cohen for investment purposes. Mr. Cohen’s future holdings in securities of the Company may increase or decrease in accordance with applicable securities legislation and in consideration of various factors that he may deem appropriate, including, but not limited to, his investment criteria, market conditions and as circumstances warrant.
An early warning report with additional information in respect of the foregoing matters has been filed under the Company’s profile on the System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com. You may contact Doron Cohen in order to obtain a copy of the early warning report, which is available at 595 Howe Street, 10th floor, Vancouver, BC V6C 2T5 or by email request at doron@alabs.co
Neither the TSX Venture Exchange, nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Not for distribution to United States news wire services or dissemination in the United States.