Disposition of Shares of Pool Safe Inc.
/NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA/
TORONTO, Aug. 29, 2019 /CNW/ - This press release is being disseminated as required by National Instrument 62‐103 The Early Warning System and Related Take Over Bids and Insider Reporting Issuers in connection with the filing of an early warning report (the "Early Warning Report") regarding the disposition of securities of Pool Safe Inc. (TSXV:POOL) (the "Company") by Stephen W. Green Professional Corporation (the "Green") of 150 York Street, 5th Floor, Toronto, Ontario, M5H 3S5. The address of the Company's registered office is 401 Magnetic Drive, Unit 14, Toronto, Ontario, M3J 3H9.
Green entered into a share purchase agreement with each of Astoria Limited, Steven Glaser, 538464 Ontario Ltd., 1604591 Ontario Inc., Tom Patterson, Investments and Technical Management Limited, Michael Rabinovici and Michael Ostroff (collectively, the "Purchasers") pursuant to which the Purchasers agreed to purchase 5,832,240 common shares of the Company for a purchase price of $233,289.60, being $0.04 per share.
Following the transaction, Green and his affiliates beneficially own 2,404,896 common shares in the capital of the Company, representing approximately 3.7% of the issued and outstanding securities of the Company on an undiluted basis. Before the transaction, Green and his affiliates beneficially owned 8,237,136 common shares in the capital of the Company, representing approximately 12.6% of the issued and outstanding securities of the Company on an undiluted basis.
The sale of these securities was for financial planning purposes and Green may increase or decrease his beneficial ownership or control depending on market or other conditions.
A copy of the Early Warning Report will be filed on www.SEDAR.com.
SOURCE Pool Safe Inc.