[ACCESSWIRE]
VANCOUVER, BC / ACCESSWIRE / May 13, 2016 / This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103- The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers.
On May 12, 2016, Darcy Bomford acquired control over an additional 2,847,951 common shares of True Leaf Medicine International Ltd. (CSE: MJ) (the "Company").
Of the 2,847,951 common shares acquired by Mr. Bomford, 1,484,204 common shares are held by Mr. Bomford in his personal capacity and the remaining 1,363,747 common shares are held by his wholly owned company, First Pacific Enterprises Inc.
The information pertaining to the acquisition is as follows:
- 190,476 common shares were acquired by Mr. Bomford in his personal capacity by paying $0.105 per common share for gross proceeds of $20,000;
- 1,293,728 common shares were acquired by Mr. Bomford in his personal capacity by converting debt owing to him in the amount of $135,841.44 at a deemed price of $0.105 per share;
- First Pacific Enterprises Inc. acquired 761,904 common shares by paying $0.105 per common share for gross proceeds of $79,999.92; and
- the Company was indebted to First Pacific Enterprises Inc. in the amount of $63,193.55 pursuant to a loan agreement. First Pacific Enterprises Inc. exercised its right to convert the total amount outstanding under the loan agreement into units of the Company at a deemed price of $0.105 per unit and as a result, First Pacific Enterprises Inc. acquired 601,843 common shares.
Immediately prior to acquisition, Mr. Bomford held 22,857,143 common shares of the Company, which represented 53.8% of the 42,490,281 issued and outstanding common shares. As of the date hereof, Mr. Bomford controls 25,705,094 common shares of the Company, which represents 49.1% of issued and outstanding common shares.
Mr. Bomford acquired the common shares for investment purposes and he intends to increase or decrease his holdings in the Company depending on market conditions and as circumstances warrant.
Mr. Bomford does not have any plans or future intentions with respect to the following:
- a corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries;
- a sale or transfer of a material amount of the assets of the Company or any of its subsidiaries;
- a change in the board of directors or management of the Company, including any plans or intentions to change the number or term of directors or to fill any existing vacancy on the board;
- a material change in the present capitalization or dividend policy of the Company;
- a material change in the Company's business or corporate structure;
- a change in the Company's charter, bylaws or similar instruments or another action which might impede the acquisition of control of the Company by any person or company;
- a class of securities of the Company being delisted from, or ceasing to be authorized to be quoted on, a marketplace;
- the issuer ceasing to be a Company in any jurisdiction of Canada;
- a solicitation of proxies from securityholders; or
- an action similar to any of those enumerated above.
A report will be filed on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Company's profile at
www.sedar.com.
Contact Information:
Darcy Bomford
+1 778 389 9933
[email protected]
100 Kalamalka Lake Road, Unit 32, Vernon, British Columbia V1T 9G1 Canada
SOURCE: Darcy Bomford
