MIAMI, Dec. 21, 2020 /PRNewswire/ - Henry Batievsky, a former director and current officer of Cansortium Inc., 82 NE 26th Street, Unit 110, Miami Florida 33137 (the "Company"), has filed an early warning report with respect to his shareholdings of the Company.
Pursuant to a surrender agreement entered into with the Company in connection with his amended and restated employment agreement, Mr. Batievsky transferred an aggregate of 1,307,524 Proportionate Voting Shares of the Company for nominal aggregate consideration of US$0.01. 624,789 of these Proportionate Voting Shares were transferred to the Company for cancellation and 682,735 of these Proportionate Voting Shares were transferred to a third party.
After the disposition, Mr. Batievsky owns in the aggregate 202 Common Shares and 1,154,665 Proportionate Voting Shares, representing approximately 0% of the Company's currently issued and outstanding Common Shares and 12.1% of the Company's issued and outstanding Proportionate Voting Shares, prior to giving effect to the share cancellation. If the Proportionate Voting Shares referred to above were to be converted into Common Shares, they would represent 11,546,650 Common Shares (being approximately 5.7% of all of the Common Shares of the Company on an as-converted basis).
Mr. Batievsky has separate agreements with third parties pursuant to which he intends to dispose of additional Common Shares and Proportionate Voting Shares. Furthermore, Mr. Batievsky reserves the right to purchase additional securities of the Company or to dispose of any securities of the Company that he may own, from time to time.
This news release is issued pursuant to National Instrument 62-103: The Early Warning System and Related Take-over Bid and Insider Reporting Issues. A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting Chief Legal Officer, Cansortium Inc., at 82 NE 26th Street, Unit 110, Miami Florida 33137, Tel: 305-441-9085.
SOURCE Henry Batievsky
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