EDMONTON, ALBERTA — (Marketwired) — 03/13/17 — Mr. Dwayne Kushniruk (“Kushniruk”) announces that pursuant to early warning disclosure requirements of National Instrument 62-103, Kushniruk disposed of 3,200,000 common shares of OneSoft Solutions Inc. (the “Company” or “OneSoft”) (“Common Shares”) on March 6, 2017 at a price of approximately $0.20 per Common Share and subsequently re-purchased on March 8, 2017 200,000 Common Shares at approximately $0.20 per share through the market on the TSX Venture Exchange, for aggregate net consideration of $601,238. Prior to the sale of these shares Kushniruk had ownership and control of 11,606,904 Common Shares representing approximately 17.2% of the then issued and outstanding Common Shares of the Company and an aggregate of 2,549,095 Warrants. Of this amount, Kushniruk owned, directly or indirectly, 5,519,374 Common Shares and beneficially owned 1,512,250 Common Shares though his wholly owned Company and 4,575,280 Common Shares through Bridge Solutions Inc. As a result of this disposition of Common Shares, Kushniruk reduced his ownership in the Company by 4.4% of the then issued and outstanding Common Shares.
Subsequently, on March 10, 2017, Kushniruk acquired 2,549,095 Common Shares by exercising 2,549,095 Warrants of the Company at an average price of $0.137 per Common Share, reducing the number of Warrants held by Kushniruk to a total of zero Warrants. At the conclusion of these transactions Kushniruk has ownership and control of Common Shares representing 11,155,999 Common Shares, representing 13.4% of the issued and outstanding Common Shares of the Company.
Pursuant to early warning disclosure requirements of National Instrument 62-103, Mr. Tim Edward (“Edward”) disposed of 1,688,146 Common Shares on March 6, 2017 at a price of $0.20 per Common Share through the market on the TSX Venture Exchange, for consideration of $338,282. Prior to the sale of these shares, Edward had ownership and control of 7,866,512 Common Shares representing approximately 11.6% of the then issued and outstanding Common Shares of the Company and an aggregate of 2,000,000 Warrants. Of this amount, Edward owned, directly or indirectly, 2,000,000 Common Shares of record and beneficially owned 5,866,512 Common Shares though Bridge Solutions Inc. As a result of this disposition of Common Shares, Edward reduced his ownership in the Company by 2.5% of the then issued and outstanding Common Shares.
Subsequently, on March 10, 2017, Edward acquired 1,688,146 Common Shares by exercising 1,688,146 Warrants of the Company at $0.10 per Common Share, reducing the number of Warrants held by Edward to a total of 311,854 Warrants. At the conclusion of these transactions Edward has ownership and control of Common Shares representing 7,866,512 Common Shares, representing 9.5% of the issued and outstanding Common Shares of the Company.
Kushniruk and Edward sold the Common Shares for investment purposes only. Other than outstanding Warrants and stock options held by them, Kushniruk and Edward have no further rights to acquire any other securities of the Company. They may, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over Common Shares of the Company or other securities of the Company, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.
The sale of Common Shares and subsequent exercise of Warrants by Kushniruk and Edward was conducted in conjunction with sale of shares and exercise of Warrants by other insiders of the Company, for the purpose of contributing funding for the Company–s working capital requirements.
A copy of the Early Warning Report is available on .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The issuance of this news release is not an admission that an entity named in the news release owns or controls any described securities or is a joint actor with another named entity.
Contacts:
Dwayne Kushniruk
(780) 437-4950
You must be logged in to post a comment Login