TORONTO, Dec. 23, 2019 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that on December 17th, 2019 it sold 135,000 warrants of Kew Media Group Inc. ("KEW") (TSX: KEW and KEW.WT) of 672 Dupont Street, Suite 400 Toronto, Ontario, M6G 1Z6. Each warrant, expires on March 20, 2022 and has an exercise price of $11.50, was sold at an average price of $0.005 per warrant for total proceeds of $ 729.00, the warrants were sold through the TSX Exchange.
Prior to the recent disposition, K2 held 733,500 common shares and 761,000 share purchase warrants. After the disposition, the partnership holds 733,500 common shares and 626,000 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 1,359,500 common shares representing approximately 9.20% of the issued and outstanding common shares of KEW.
K2 disposed of 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