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NIA News
Niagara investor McEachern acquires 2.93 M shares
2016-02-19 10:40 MT - News Release
Mr. Ronald McEachern, investor, reports
ACQUISITION OF COMMON SHARES OF NIAGARA VENTURES CORPORATION BY RONALD MCEACHERN
On Feb. 18, 2016, Ronald McEachern acquired, through One St. Thomas Holdings Inc. (a holding company controlled by Mr. McEachern), ownership and control of 2,934,311 common shares of Niagara Ventures Corp. The acquired shares represent 14.7 per cent of the issued and outstanding common shares of the issuer.
Immediately following the acquisition of the acquired shares, the offeror (inclusive of One St. Thomas Holdings) owns and controls 3,731,866 common shares of the issuer, representing 18.7 per cent of the issued and outstanding common shares of the issuer (or 4,171,866 common shares of the issuer, representing 20.4 per cent of the issued and outstanding common shares of the issuer, assuming the exercise of all options held by the offeror).
The acquired shares were acquired by way of private agreement, and the offeror paid a total of $146,715.55 for the acquired shares (five cents per acquired share).
The offeror acquired the acquired shares for investment purposes only. The offeror may, in the future, take such actions in respect of his holdings as deemed appropriate in light of the circumstances then existing, including the purchase of additional common shares or other securities of the issuer through open-market purchases or privately negotiated transactions, or the sale of all or a portion of his holdings in the open market or in privately negotiated transactions to one or more purchasers.
This press release is issued pursuant to National Instrument 62-103, the Early Warning System and Related Takeover Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the issuer is a reporting issuer containing additional information with respect to the foregoing matters. A copy of the early warning report will be filed under the SEDAR profile of the issuer.
A copy of the early warning report may also be obtained by contacting Mr. McEachern at 416-669-1016.
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