Halman-Aldubi Group acquires stake in True North Gems Inc.
/FOR DISSEMINATION IN
Because of a restriction in the terms and conditions of the warrants which prohibits any exercise, if after giving effect to such exercise, Halman-Aldubi, together with any person acting jointly or in concert with Halman-Aldubi would in the aggregate beneficially own (including deemed beneficial ownership, as such term is described in Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids), or exercise control or direction over, directly or indirectly, that number of voting or equity securities of the Reporting Issuer which is 20% or greater of the total issued and outstanding voting or equity securities of the Reporting Issuer immediately after giving effect to such exercise, these holdings effectively represent 20% of the issued and outstanding capital of the Reporting Issuer calculated on a partially diluted basis.
Halman-Aldubi acquired the common shares and warrants for investment purposes and may in the future increase or decrease its ownership of securities of the Company from time to time depending upon the business and prospects of the Company and future market conditions.
For further information: Eli Baruch, accountant, phone: 972-3-6000279, fax: 972-3-6121800, e-mail: [email protected]
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