MONTREAL, April 11, 2014 /CNW Telbec/ - Mazen Haddad, Chairman of the Board of Directors, President and Chief Executive Officer of Knowlton Capital Inc. (TSXV: KWC.H), announces that he has purchased 1,400,000 units of Knowlton Capital at a price of $0.05 per unit by way of private placement, for total proceeds of $70,000. Each unit is comprised of one common share of Knowlton Capital and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire one additional common share of Knowlton Capital at a price of $0.05 until April 10, 2015.
Immediately following the closing of the private placement, Mazen Haddad directly and indirectly owns the following Knowlton Capital securities: (i) 8,356,495 common shares, representing approximately 23.1% of the issued and outstanding common shares of Knowlton Capital, (ii) common share purchase warrants in respect of 1,400,000 common shares, and (iii) stock options in respect of 1,558,775 common shares. Assuming the exercise of all warrants and stock options held by Mr. Haddad, he would own 11,315,270 common shares, representing 28.91% of the Knowlton Capital common shares that would then be issued and outstanding.
Mr. Haddad acquired the Knowlton Capital common shares and common share purchase warrants in the private placement for investment purposes, and in accordance with applicable securities laws, Mr. Haddad may, from time to time and at any time, acquire additional common shares of Knowlton Capital and/or other equity, debt or other securities or instruments of Knowlton Capital in the open market or otherwise, and he reserves the right to dispose of any or all of his Knowlton Capital securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of Knowlton Capital and other relevant factors. Mr. Haddad is resident in Monte Carlo, Monaco.
Mr. Haddad also announces that Knowlton Capital has repaid in full convertible loans made by him to Knowlton Capital in an aggregate amount of $45,000. The convertible loans were made to provide working capital.
SOURCE: Knowlton Capital Inc.
For further information: Mazen Haddad, c/o Fasken Martineau DuMoulin LLP, 800 Square Victoria, Suite 3700, Montreal, Québec, H4Z 1E9, 514.788.1499 x202