DALMAC ENERGY INC. TSX Venture: "DAL"
EDMONTON, May 3, 2016 /CNW/ - John Babic, President and CEO of Dalmac Energy Inc. (the "Company" or "Dalmac") (TSX Venture "DAL") wishes to announce that on May 3, 2016, Mr. John Babic the President and Chief Executive Officer of Dalmac ("Mr. Babic"), acquired 2,500,000 Units of the Company (the "Units") in the non-brokered private placement of the Company that closed on the date hereof, at a price of $0.10 per Unit. Each Unit entitled the holder thereof to acquire, at no additional cost, one common share of Dalmac (a "Common Share") and one share purchase warrant of Dalmac (the "Warrants"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.15 per Common Share for a period of eighteen months from the date hereof.
As a result of the acquisition, Mr. Babic now has ownership and control over an aggregate of 9,318,167 Common Shares, 450,000 options to acquire Common Shares ("Options") and 2,500,000 Warrants, representing approximately 32.93% (basic) of the issued and outstanding Common Shares and 35.43% (fully diluted) of the issued and outstanding Common Shares, which is inclusive of Common Shares that would be issued upon exercise of all Options and Warrants held by Mr. Babic.
The Common Shares acquired by Mr. Babic, were purchased to increase Mr. Babic's shareholdings for investment purposes. Mr. Babic may, depending on market and other conditions, increase or decrease his beneficial ownership of or control or direction over the securities of the Company in the open market, subject to a number of factors, including general market conditions and other available investment and business opportunities. Mr. Babic purchased the Units relying on the exemption in section 2.5 of National Instrument 45-106 – Prospectus Exemptions, as the Units were purchased pursuant to a private placement completed by the Company.
This news release is being issued pursuant to Part 3 of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by Mr. Babic in connection with the acquisition of the Common Shares is available on the Company's SEDAR profile, and it can also be obtained directly from John Babic by contacting the Company at the number shown below.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Dalmac Energy Inc.
For further information: Please contact John Babic, at 4934 - 89 Street NW, Edmonton AB T6E 5K1 by phone (780) 988-8510, by fax at (780) 988-8512, or by e-mail at [email protected]