TORONTO, Dec. 31, 2018 /CNW/ - Kenneth Kadonoff, 46 Stuart Crescent, Toronto Ontario, M2N 1A5 ("Kadonoff" or the "Acquiror"), announced today that he has filed an early warning report in respect of the acquisition, acting jointly with certain joint actors (the "Joint Actors"), of an aggregate of 10,000,000 common shares and 1,790,902 options of Braingrid Limited (formerly Match Capital Resources Corporation) (the "Company"), whose head office is located at 150 Bridgeland Ave., Suite #100, Toronto, ON M6A 1Z5. The common shares acquired by the Acquiror were acquired pursuant to the terms a business combination completed on December 28, 2018, between the Company and Braingrid Corporation (the "Business Combination"), as previously announced by the Company. Each option is exercisable for one common share of the Company at an exercise price of $0.005 per option. The common shares were issued at a deemed price of $0.40 per common share, for total deemed consideration of $4,000,000.
Prior to the filing of the early warning report, the Acquiror and the Joint Actors had ownership of no common shares and no options of the Company. Immediately following the Business Combination the Acquiror, acting jointly, has ownership and/or control of 10,000,000 common shares of the Company, representing approximately 21.9% of the issued and outstanding shares of the Company. In addition, assuming exercise of all 1,790,902 options held by the Acquiror and Joint Actors, the aggregate holdings of the Acquiror and the Joint Actors would represent approximately 25.8% of the issued and outstanding common shares of the Company.
The common shares and options of the Issuer were acquired by the Acquiror and the Joint Actors in connection with the Business Combination. The Acquiror may acquire additional securities of the Issuer in the future depending on market prices and compliance with applicable securities laws. The Acquiror has no current plans or intentions to increase his ownership of, or control or direction over, additional securities of the Company.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System. A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Kenneth Kadonoff
For further information: Kenneth Kadonoff, Telephone: 416.410.6005