EARLY WARNING NEWS RELEASE OF MARAPHARM VENTURES INC.
Marapharm Ventures Inc. (the “Company”) announces that it has today filed an early warning report advising that it has purchased a total of 5,000,000 units (the “Units”) of Veritas Pharma Inc. (the “Issuer”), each Unit consisting of one common share (the “Common Shares”) and one common share purchase warrant (the “Warrants”) of the Issuer, and concurrently subscribed for 5,000,000 additional Warrants of the Issuer. The 5,000,000 Units were purchased at a price of $0.22 per Unit for an aggregate purchase price of $1,100,000 and the 5,000,000 additional Warrants will be purchased at a price of $0.05 per Warrant for an aggregate purchase price of $250,000. In total, the Company will have paid $1,350,000 to the Issuer for all securities acquired (the “Securities”).
On a partially diluted basis, the Securities represent 36.48 of the voting securities of the Issuer. The Company did not own any securities of the Issuer prior to the transaction. The Securities of the Issuer were acquired for investment purposes and, subject to regulatory requirements, the Company may acquire additional securities of the Issuer in the future.
The Shares are listed on the Canadian Securities Exchange and were acquired or subscribed for pursuant to an offering of Units and an offering of Warrants conducted by the Issuer.
An early warning report for the Company has been filed on SEDAR and will be available for review at www.sedar.com under the Issuer’s profile.