TORONTO, Dec. 9, 2019 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that on December 6th, 2019 it purchased 8,600 common shares and 367,500 warrants of Kew Media Group Inc. ("KEW") (TSX: KEW and KEW.WT) of 672 Dupont Street, Suite 400 Toronto, Ontario, M6G 1Z6. Each common share was purchased at an average price of $ 3.7943 through the TSX Exchange for a total cost of $32,630.98. Each warrant, expires on March 20, 2022 and has an exercise price of $11.50, was purchased at an average price of $0.05 per warrant for a total cost of $18,375, the warrants were purchased through the TSX Exchange.
Prior to the recent acquisitions, K2 held 715,700 common shares and 600,500 share purchase warrants. After the acquisition, the partnership holds 724,300 common shares and 968,000 share purchase warrants, which expire on March 20, 2022 and have an exercise price of $11.50, assuming the exercise of the warrants, the Partnership would hold 1,692,300 common shares representing approximately 11.20% of the issued and outstanding common shares of KEW.
K2 acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of KEW through market transactions, private agreements or otherwise.
SOURCE K2 Principal Fund L.P.
For further information: Dan Gosselin, The K2 Principal Fund L.P., (416) 365-2155