NORTH CHARLESTON, SC, April 23, 2019 /CNW/ - The Article 6 Marital Trust created under the First Amended and Restated Jerry Zucker Revocable Trust dated 4-2-07 (the "Trust") announced today that it acquired ownership of 2,833,500 common shares ("Common Shares") of Titan Logix Corp. (TSXV:TLA) ("Titan") representing approximately 9.93% of the issued and outstanding Common Shares by way of private purchase agreement in a single block purchase from a single seller at a price of CDN$0.55 per share (a price that, including brokerage fees or commissions, is not greater than 115% of the market price as determined in accordance with applicable securities laws), for total consideration of CDN$1,558,425 (the "Purchase").
Titan's head office address is located at 4130 - 93rd Street, Edmonton, Alberta T6E 5P5.
Prior to the Purchase, the Trust owned 7,194,792 Common Shares of Titan representing approximately 25.21% of the issued and outstanding Common Shares. Following the Purchase, the Trust owns 10,028,292 Common Shares representing approximately 35.14% of the issued and outstanding Common Shares. The Purchase was made in reliance on the "private agreement exemption" under section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids.
The Trust completed the Purchase for investment purposes. The Trust will continue to review the performance of and prospects for this investment and investment alternatives. As part of the ongoing review of the investment in Common Shares in Titan, the Trust may explore from time to time a variety of alternatives, including the acquisition of securities of Titan or the disposition of securities of Titan in the open market or in privately negotiated transactions. The Trust may also explore other alternatives with respect to the investment in Titan securities, including but not limited to an extraordinary corporate transaction involving Titan, changes in the present board of directors or management of Titan, or changes in Titan's business or corporate structure. Although the foregoing reflects activities presently contemplated with respect to Titan, the foregoing is subject to change at any time, and there can be no assurance that the Trust will take any of the actions referred to above.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a report to be filed under Titan's profile on SEDAR (www.sedar.com) containing further information respecting the foregoing matters.
SOURCE Article 6 Marital Trust
For further information: For a copy of such report or further information, you may contact: Robert Johnston, 4838 Jenkins Avenue, North Charleston, South Carolina 29405 USA, (843) 744-5174