TORONTO, ONTARIO -- (Marketwired) -- 12/17/13 -- Mosaic Capital Partners LP ("Mosaic") announced today that it has acquired ownership of 1,000,000 common shares (the "Common Shares") of AirIQ Inc. ("AirIQ"), representing approximately 4.7% of the total issued and outstanding common shares of AirIQ immediately prior to the transaction. As a result of this transaction, Mosaic holds, as at December 17, 2013, an aggregate of 5,249,999 common shares of AirIQ, including the Common Shares, representing approximately 18.07% of all of the issued and outstanding common shares of AirIQ as at December 17, 2013
In addition, on December 17, 2013, Mosaic also acquired a warrant to purchase up to 700,000 common shares of AirIQ (the "Warrant") at a price of $0.05 per share and for a term of five (5) years. In the event of exercise of the Warrant, Mosaic would own an aggregate of 5,949,999 common shares of AirIQ representing approximately 19.99% of the then issued and outstanding common shares of AirIQ, including the shares issued upon exercise of the Warrant.
These transactions were made for investment purposes and Mosaic could increase or decrease its investment in AirIQ depending on market conditions or any other relevant factor.
Mosaic Capital Partners LP is a private equity firm focused on providing capital, strategic advice and access to an extensive network to add value to small and medium sized enterprises.
Neither 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.
Mosaic Capital Partners LP
Chief Financial Officer