FREDERICTON, Nov. 29, 2017 /CNW/ - 633688 N.B. Inc. ("633688") announces that today it has sold ownership and control of an aggregate of 1,535,170 common shares ("Shares") of Trius Investments Inc. (TSXV: TRU) (the "Issuer"), representing approximately 13.6% of the issued and outstanding Shares, by way of private agreement with one buyer.
The Shares were purchased at a price of $0.17 per Share (the "Purchase Price") for total cash consideration of $260,978.90, including $0.05 per Share placed into escrow (the "Escrowed Amount") pending the occurrence of certain events involving the Issuer. Upon such events occurring, the Escrowed Amount will be allocated amongst the buyer and 633688 by reference to a pre-determined formula which may have the effect of reducing the Purchase Price.
Prior to this transaction 633688 owned directly 3,012,135 Shares representing approximately 26.7% of the issued and outstanding Shares. Following the transaction 633688 will own directly 1,476,965 Shares representing approximately 13.1% of the issued and outstanding Shares. 633688 and parties associated or related to it currently own and control a total of 1,887,330 Shares representing approximately 16.7% of the issued and outstanding Shares. Following this transaction 633688 intends to increase its direct ownership from 13.1% of the issued and outstanding Shares to 14% of the issued and outstanding Shares.
633688 holds the Shares for investment purposes and may, from time to time, acquire additional Shares or dispose of some or all of the Shares it currently holds. 633688 does not currently intend to change the Issuer's previously-disclosed plans to dispose of its existing investments.
This news release is issued pursuant to the early warning requirements of applicable securities laws. This news release and the related early warning report will be filed on SEDAR at www.sedar.com under the Issuer's profile.
SOURCE 633688 N.B. Inc.
For further information: or to obtain a copy of the related early warning report, please contact: 633688 N.B. Inc., 70 Trius Drive, P.O. Box 1385, Fredericton, NB E3B 5E3, Attn: Gordon Wheaton, President, Tel: (506) 459.7300