CALGARY, Aug. 28, 2014 /CNW/ - Artie T. Kos, 5211 50th Street, Drayton
Valley, AB, T7A 1S6 (the "Offeror"), as a result of a plan of arrangement completed on August 27, 2014
(the "Arrangement") between Winalta Inc. ("Winalta") and CERF Incorporated ("CERF"), the Offeror acquired an aggregate of 7,868,825 CERF common shares ("CERF Shares").
Prior to the Arrangement, the Offeror controlled 22,660,575 class "A"
common shares of Winalta ("Winalta Shares"), which represented an interest of approximately 52.5% of Winalta
As a result of the Arrangement, CERF acquired 43,128,631 Winalta Shares
by issuing approximately 14,456,717 CERF Shares, based on the issuance
of 0.3352 of a CERF Share for every one (1) Winalta Share.
The Offeror now beneficially owns and exercises control over an
aggregate of 7,595,825 CERF Shares, representing an interest of
approximately 22.2% of CERF's Shares.
The Offeror's interest in CERF is for investment purposes only. While
the Offeror will have an ongoing advisory role with CERF, the
acquisition was not for the purpose of exercising control or direction
The Offeror has entered into an agreement with CERF whereby he will, by
February 27, 2015, use commercially reasonable efforts to reduce the
percentage of CERF Shares he owns, controls or directs to less than 20%
of the CERF Shares then outstanding (calculated on a basic basis)
provided that such shares can be sold at a price higher than $3.63.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting
Issues, which also requires a report to be filed with regulatory authorities
in each of the jurisdictions in which CERF is a reporting issuer
containing information with respect to the foregoing matters (the Early Warning Report"). A copy of the Early Warning Report will appear with CERF's documents
on the System for Electronic Document Analysis and Retrieval and may
also be obtained by contacting Bill Doyle on behalf of the Offeror at
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Artie T. Kos
For further information:
Artie T. Kos
Telephone: (780) 542-4627