TORONTO, ON / ACCESSWIRE / May 14, 2021 / On May 13, 2021, ExpoWorld Ltd. acquired, pursuant to a private agreement, beneficial ownership and control of 51,846,826 common shares of First Potash Corp. (the "Corporation") at a price of $0.000675 per share and 31,055,901 common share purchase warrants ("Warrants") for no additional consideration.
As a result of the above transaction, ExpoWorld Ltd. now beneficially owns and controls a total of 119,197,521 common shares which represents 39.8178% of the issued common shares of the Corporation, and beneficially owns and controls 31,055,901 Warrants. If ExpoWorld Ltd. exercises all of the Warrants, it would beneficially own 150,253,422 common shares of the Corporation, which would represent approximately 45.47% of the issued common shares of the Corporation on a fully diluted basis.
ExpoWorld Ltd. owned and controlled 67,350,695 common shares of the Corporation prior to the acquisition referred to above.
The 51,846,826 common shares and 31,055,901 Warrants were acquired by ExpoWorld Ltd. pursuant to the exemption from making a formal take-over bid contained in Section 4.2(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids on the basis that the price per share of $0.000675 is less than $0.000741, which is 115% of the last private placement price of $0.000645.
ExpoWorld Ltd. acquired the common shares and Warrants pursuant to a private sale, for investment purposes; and depending upon the circumstances, it may, from time to time, acquire additional securities of the Corporation or dispose of all or a portion of the securities of the Corporation.
An Early Warning Report will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and will be able to be viewed at www.sedar.com.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE REPORT REQUIRED BY SECURITIES REGULATIONS, PLEASE CONTACT:
ExpoWorld Ltd.
President: John Passalacqua
Telephone: (416) 546-6885
SOURCE: ExpoWorld Ltd.
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https://www.accesswire.com/647536/Shareholder-Early-Warning-News-Release
