TORONTO, Dec. 11, 2012 /CNW/ - 2352512 Ontario Inc. ("2352512"), and its sole beneficial shareholder,
G.B. Proud (together, the "Offeror"), today will file an early warning
report in connection with the purchase of units of OneMove Technologies
Inc. ("OneMove" or the "Company") on a private placement basis (the "Private Purchase").
On December 7, 2012, 2352512 acquired 800,000 units of the Company at a
price of $0.2625 per unit. Each unit is comprised of one common share
and one common share purchase warrant. Each warrant is exercisable at a
price of $0.42 per shares for 5 years.
After giving effect to the Private Purchase, 2352512 owns 800,000 common
shares representing approximately 6.4% of the issued and outstanding
shares. Assuming the exercise of the warrants, the Offeror would hold
1,600,000 common shares representing approximately 12% of the Company's
issued and outstanding shares, assuming no other convertible securities
The Offeror acquired the units for investment purposes. In connection
with the Private Purchase the Offeror obtained a right of first refusal
to maintain its pro rata ownership of common shares of OneMove.
The Offeror was introduced to the Company by its Chairman and
significant shareholder, Matthew Proud, who is G.B. Proud's son. The
Offeror may, directly or indirectly, depending on market and other
conditions, acquire beneficial ownership of, or control or direction
over, additional common shares of OneMove, through market transactions,
private agreements or otherwise, in accordance with applicable
securities legislation. The Offeror may also, depending on market and
other conditions, sell any or all of its common shares.
SOURCE: 2352512 Ontario Inc.