Grande Prairie, Alberta--(Newsfile Corp. - September 13, 2019) - Mr. Dean Swanberg announces that, on September 13, 2019, pursuant to a shares for debt agreement, as further described herein, Mr. Swanberg, through D.S.S. Holdings Inc., a private Alberta corporation controlled by Mr. Swanberg, acquired a total of 189,394 Common Shares of Zedcor Energy Inc. (the "Issuer").
In April, 2017, as previously disclosed by each of the Issuer and Mr. Swanberg, the Issuer and Mr. Swanberg entered into a shares for debt agreement whereunder Mr. Swanberg agreed to subscribe for and purchase such number of Common Shares, on a monthly basis, that will result by setting off and exchanging the value of a guarantee fee payable, pursuant to a term loan (in March 2018, amended to correspond to a credit facility), at such time, at a price per share equal to the five-day volume weighted average trading price of the Common Shares on the TSX Venture Exchange for the last five trading days of each calendar month immediately preceding such date. Pursuant to such shares for debt agreement, Mr. Swanberg, through D.S.S. Holdings Inc. ("D.S.S."), a private Alberta corporation controlled by Mr. Swanberg, acquired 1,650,139 Common Shares from June 1, 2017 through to July 2, 2019, at a high of $0.30 per share and low of $0.07 per share. Mr. Swanberg also acquired 348,000 Common Shares personally on the open market between February and April 2019 at market prices. Effective January 15, 2018, as previously announced, Mr. Swanberg, through D.S.S., gifted 500,000 Common Shares. Pursuant to the shares for debt agreement, on September 13, 2019, Mr. Swanberg, through D.S.S., acquired 189,394 Common Shares at a price of $0.11 per share, which resulted in Mr. Swanberg beneficially owning or exercising control over a total of 12,974,730 Common Shares, representing 24.11% of the outstanding Common Shares of the Issuer.
Mr. Swanberg acquired the Common Shares for investment purposes and may, in the future, increase or decrease their ownership of securities of the Issuer, directly or indirectly, from time to time depending upon, among other things, the business and prospects of the Issuer and future market conditions.
For further details regarding the acquisition of the Common Shares described above, see the Early Warning Report dated September 13, 2019 available on the Issuer's SEDAR profile.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONNECTION WITH THIS MATTER, PLEASE CONTACT:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47794