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 are exercised.
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.