TORONTO, Aug. 4, 2016 /CNW/ - Zaff 2 LP (Zaff 2) announces that it has acquired ownership of and control over 70,950,462 common shares (the Acquired Shares) of Stonegate Agricom Ltd. (Stonegate) at a price of $0.0175 per share, for an aggregate purchase price of $1,241,633 (the Acquisition), representing approximately 16.7% of the issued and outstanding common shares of Stonegate (the Common Shares). Prior to the Acquisition, Zaff 2 owned no Common Shares. Zaff LP (together with Zaff 2, the Zaff Entities), a joint actor of Zaff 2, owns and controls 84,000,000 Common Shares. After giving effect to the Acquisition, the Zaff Entities own 154,950,462 Common Shares, representing 36.6% of the issued and outstanding Common Shares.
Zaff 2 acquired the Acquired Shares on a private off market basis pursuant to a share purchase agreement dated August 3, 2016. The Acquired Shares are being acquired for investment purposes. However, the Zaff Entities may take such actions in respect of its holdings as it deems appropriate in light of the circumstances then existing, including, without limitation, acquisitions or dispositions of Common Shares, whether in the open market, by privately negotiated agreement or otherwise, or in connection with a strategic transaction with Stonegate.
The head office of Stonegate is located at Suite 1300 – 20 Adelaide Street East, Toronto, Ontario, M5C 2T6.
SOURCE Zaff 2 LP
For further information: including a copy of the corresponding report filed with Canadian securities regulators, please contact: Zaff 2 LP, P.O. Box 309, Ugland House, Grand Cayman, Cayman Islands, KY1-1104, Attention: Brent de Jong, Telephone: 1-713-239-2701