Eastern Capital Limited acquires additional shares of Zenith Epigenetics Corp.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, March 14, 2014 /CNW/ - Eastern Capital Limited ("Eastern") is pleased to announce that today it has entered into a subscription agreement with Zenith Epigenetics Corp. ("Zenith") pursuant to which Eastern has acquired 6,000,000 common shares issued by Zenith (the "Subscription Shares") at a price of US$1.00 per Subscription Share (the "Subscription Price"), for an aggregate purchase price of US$6,000,000 (the "Subscription Amount"). Eastern also holds 2,048,640 warrants of Zenith. Assuming all warrants are exercised, Eastern holds 15,248,640 common shares of Zenith, before giving effect to the acquisition of the Subscription Shares, which represents approximately 19.6% of the outstanding common shares. After giving effect to the acquisition of the Subscription Shares and assuming the exercise of all of the warrants, Eastern has beneficial ownership and control over 21,248,640 common shares of Zenith, which represents approximately 25.4% of the outstanding common shares.
The Subscription Shares were issued in connection with a larger private placement by Zenith of an additional 2,000,000 common shares (the "Private Placement"). Following completion of the Private Placement and the exercise of all warrants of Zenith held by Eastern, Eastern has beneficial ownership and control over approximately 24.8% of the outstanding common shares.
The Subscription Shares are acquired for investment purposes only. In
the future, Eastern or any of its joint actors may, subject to
applicable law, acquire or dispose of common shares of Eastern
depending upon a number of factors, including general market and
economic conditions and other available investment opportunities.
SOURCE Eastern Capital LimitedFor further information:
or to obtain a copy of the early warning report, please contact William Sullivan at 345.640.3330.
Eastern Capital Limited
113 South Church Street
PO Box 1994
Grand Cayman, KY1-1104