TORONTO, Dec. 1, 2017 /CNW/ - Thomvest Asset Management Inc. ("Thomvest") today filed an updated report of its ownership of common shares and warrants of Prometic Life Sciences Inc. (the "Corporation") pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. The common shares and warrants are held through Structured Alpha LP, a limited partnership of which Thomvest is the sole general partner.
On November 30, 2017, the Corporation issued warrants (the "New Warrants") to acquire up to an aggregate of 54,000,000 common shares of the Corporation ("Common Shares") to Structured Alpha LP, in connection with a US$80,000,000 (approximately C$103,020,800) loan agreement (the "Fourth Loan Agreement") dated as of November 30, 2017 between Structured Alpha LP, as lender, and the Corporation, as borrower, and certain subsidiaries of the Corporation. The New Warrants were issued to Thomvest pursuant to the exemption contained in Section 2.3 (Accredited Investor) of National Instrument 45-106 – Prospectus Exemptions. The New Warrants will vest in tranches based on the amount drawn under the Fourth Loan Agreement and may be exercised in whole or in part at Structured Alpha LP's option until June 30, 2026, at an exercise price of $1.70.
On March 11, 2016, Thomvest filed an early warning report disclosing its ownership, directly and indirectly, of 7,202,998 Common Shares as well as warrants to acquire an aggregate of 56,793,782 Common Shares, representing approximately 10.03% of the then outstanding Common Shares after giving effect to the exercise of such warrants. As of November 29, 2017, the Corporation had 710,359,636 Common Shares outstanding. Immediately before acquiring the New Warrants on November 30, 2017, Thomvest beneficially owned, or exercised control or direction over, directly and indirectly, warrants to acquire an aggregate of 67,394,189 Common Shares and 24,071,775 Common Shares, which represented approximately 11.76% of the outstanding Common Shares after giving effect to the exercise of such warrants.
Following Structured Alpha LP's acquisition of the New Warrants on November 30, 2017, Thomvest beneficially owns, or exercises control or direction over, warrants to acquire an aggregate of 121,394,189 Common Shares, together with 24,071,775 Common Shares. If all of the warrants that it holds were exercised, Thomvest would beneficially own, or exercise control or direction over, directly and indirectly, an aggregate of 145,465,964 common shares of the Corporation, or approximately 17.49% of the outstanding common shares after giving effect to such exercise, representing an increase in its beneficial ownership or control of Common Shares of 5.73%.
Structured Alpha LP holds the Common Shares and warrants of the Corporation for investment purposes. As the general partner of Structured Alpha LP, Thomvest continually reviews investment alternatives and may purchase or sell securities of the Corporation from time to time in accordance with applicable laws.
A copy of the early warning report may be obtained on request to Zack Newton of Thomvest Asset Management Inc. at (416) 364-8700.
Thomvest Asset Management Inc.
Structured Alpha LP
65 Queen Street West
SOURCE Thomvest Asset Management Inc.