STELLARTON, NS, March 30, 2016 /CNW/ - Donald R. Sobey of Stellarton, Nova Scotia announced that Sumac Corporation Limited, a company controlled by him, yesterday acquired ownership of 8,333,333 common shares of Norvista Capital Corporation representing approximately 11.68% of those outstanding. The shares were purchased at a price of $0.12 per share as part of a private placement offering by Norvista in reliance on the accredited investor exemption from applicable prospectus requirements. Sumac now owns or controls approximately 17.28% of the outstanding Norvista common shares.
The purchases were made for investment purposes. Subject to the regulatory limitations, Sumac may acquire, dispose of or continue to hold the shares in the normal course of its investment activities.
SOURCE Sumac Corporation Limited
For further information: Robert G.C. Sobey, Director and Corporate Secretary, Sumac Corporation Limited, 115 King StreetStellarton NS B0K1S0, Tel: 902-468-1000, ext. 7505