MONTREAL, Nov. 30, 2018 /CNW Telbec/ - On November 30, 2018, BDC Capital Inc. ("BDC Capital"), a wholly-owned subsidiary of the Business Development Bank of Canada ("BDC"), purchased 7,228,915 common shares in the capital of H2O Innovation Inc. (the "Corporation") (TSXV: HEO) at a price of $0.83 per share, in connection with a bought-deal private placement by the Corporation (the "Offering").
Immediately prior to the Offering, BDC did not beneficially own or have control or direction, directly or indirectly, over any common shares of the Corporation. Immediately after the Offering, BDC beneficially owns or has control or direction over, directly or indirectly, 7,228,915 common shares of the Corporation, representing approximately 12.93% of the issued and outstanding common shares of the Corporation.
BDC Capital acquired the 7,228,915 shares for investment purposes. BDC or BDC Capital may, depending on market and other conditions and subject to applicable securities regulation, change its beneficial ownership of (or control or direction over) the shares and/or other equity, debt or other securities or instruments (collectively, the "Securities") of the Corporation, whether in the open market, by privately negotiated agreements, or otherwise. Any transaction that BDC or BDC Capital may pursue may be made at any time and from time to time without prior notice and will depend on a variety of factors, including, without limitation, the price and availability of the Corporation's securities, subsequent developments affecting the Corporation, its business and prospects, other investments and business opportunities available to BDC or BDC Capital, general industry and economic conditions, the securities markets in general and other factors deemed relevant by BDC or BDC Capital, as the case may be.
This news release is issued under the early warning provisions of Canadian securities legislation. An early warning report relating to this transaction will be filed on SEDAR under the Corporation's profile at www.sedar.com. To obtain a copy of such report, please contact Joanne Lajeunesse, Public Affairs, BDC, [email protected], 1-844-625-8321.
About BDC
BDC is the only bank devoted exclusively to entrepreneurs.vIt promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 123 business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first financial institution in Canada to receive B Corp certification. To find out more, visit bdc.ca.
SOURCE Business Development Bank of Canada
Joanne Lajeunesse, Public Affairs, BDC, [email protected], 1-844-625-8321
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