Ross Smith Asset Management ULC Acquires Control Over Common Shares of Apivio Systems Inc.

CALGARY, Jan. 24, 2017 /CNW/ - Ross Smith Asset Management ULC ("RSAM") announced that an investment fund it manages and advises, the Ross Smith Opportunities Fund ("RSOF"), has acquired 3,036,000 common shares (the "Shares") of Apivio Systems Inc. ("Apivio") since a take-over bid for all of the outstanding shares of Apivio was filed by Nuri Telecom Company Limited with the Canadian securities regulatory authorities on January 17, 2017. The Shares were acquired through the facilities of the TSX Venture Exchange.

As a result of the acquisition of the Shares, RSOF now beneficially owns and RSAM exercises control and direction over 3,036,000 shares of Apivio, representing approximately 5.75% of the 52,843,525 issued and outstanding shares as of September 30, 2016 as per Apivio's quarterly financial statements.

RSOF acquired the Shares for investment purposes only and may, depending on market conditions and other factors, increase or decrease its beneficial ownership, control or direction over shares or other securities of Apivio through market transactions, private agreements or otherwise.

SOURCE Ross Smith Opportunities Fund

For further information: please contact: Julian Klymochko, Chief Investment Officer, Tel: 403-294-6894, Ross Smith Asset Management ULC, 305, 407-8th Avenue S.W., Calgary, Alberta, T2P 1E5

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