Early Warning News Release: Entre Global Services Inc. and 165174 Canada Inc. acquire common shares of DelphX Capital Markets Inc.
TORONTO, May 2, 2018 /CNW/ - DelphX Capital Markets Inc. (formerly Seaside Exploration Partners Corp.) (the "Company") has acquired all of the issued and outstanding shares of DelphX Corporation ("DelphX") in exchange for the issuance of common shares of the Company (the "Transaction").
In connection with the Transaction, Entre Global Services Inc., of 5 Great Valley Parkway, Malvern, Pennsylvania 19355, USA, a private company controlled by Larry Fondren, the President and Chief Executive Officer of the Company, has acquired 26,039,615 common shares of the Company, representing 33.4% of the outstanding common shares of the Company. Of such shares, 25,010,000 common shares were issued to Entre Global Services Inc. in exchange for an equal number of common shares of DelphX that it held, and 1,029,615 common shares were purchased from a director of the Company at a price of $0.08 per share.
In addition, in connection with the Transaction, 165174 Canada Inc., of 201 Bridgeland Ave., North York, Ontario M6A 1Y7, a private company controlled by Keith Ainsworth, a director of the Company, has, with Mr. Ainsworth, acquired an aggregate of 15,385,749 common shares of the Company, representing 19.4% of the outstanding common shares of the Company. Of such shares, 14,777,392 common shares were issued to 165174 Canada Inc. in exchange for an equal number of common shares of DelphX that it held, and 608,357 common shares were purchased by Mr. Ainsworth from directors of the Company at a price of $0.08 per share.
A copy of the filing statement dated April 19, 2018 of the Company describing the Transaction is available on www.sedar.com.
The shares of the Company have been acquired for investment purposes and the holders may, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over securities of the Company through market transactions, private agreements or otherwise.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. Further information will be included in the early warning reports to be filed in connection with the acquisition, which will be available at www.sedar.com under the Company's profile or by contacting Stephen Gledhill at 416-347-0197.
SOURCE Entre Global Services Inc.
Further information will be included in the early warning reports to be filed in connection with the acquisition, which will be available at www.sedar.com under the Company's profile or by contacting Stephen Gledhill at 416-347-0197.
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