Vancouver, British Columbia--(Newsfile Corp. - June 5, 2019) - Mr. Ryan Kalt today announced that he has acquired an aggregate of 278,000 common shares of Pivit Exploration Inc. (CSE: PIVT) ("Pivit" or the "Company"), an aggregate of 450,000 stock options of Pivit, and an aggregate of 715,000 units of Pivit, with each unit comprised of one common share of Pivit and one common share purchase warrant of Pivit. The 278,000 common shares were acquired through a series of purchases on the Canadian Securities Exchange between January 3, 2019 and April 12, 2019, under which Mr. Kalt paid an aggregate of $23,129.60, representing an average price of $0.0832 per share. The stock options were issued to Mr. Kalt on May 31, 2019. The units were purchased by Mr. Kalt in a private placement financing transaction on June 5, 2019 at a price of $0.07 per unit, for an aggregate purchase price of $50,050.00. Collectively, the options, shares and warrants acquired by Mr. Kalt represent approximately 9.22% of the issued and outstanding common shares of the Company (assuming exercise of all of the warrants and stock options).
Mr. Kalt now owns or has control or direction over an aggregate of 4,116,000 common shares of the Company, representing approximately 17.07% of the Company's issued and outstanding common shares (or 5,281,000 common shares of Pivit representing 21.90% of the issued and outstanding shares, assuming exercise of all stock options and warrants). The options were issued to Mr. Kalt as an officer and director of the Company. The shares and warrants were acquired by Mr. Kalt for investment purposes. Mr. Kalt may acquire additional securities of Pivit either on the open market or through private acquisitions or sell securities of Pivit either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Other than the foregoing, Mr. Kalt does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.
The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from Pivit's profile on SEDAR at www.sedar.com. To obtain a copy of the report, please contact Michael Raven of Beadle Raven LLP at 1.604.899.6401.
The CSE has not reviewed, approved or disapproved the contents of this press release.
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