MONTRÉAL, QUÉBEC–(Marketwired – June 6, 2016) – Genius Properties Ltd. (the “Corporation“) (CSE:GNI) today reports that Mr. Stéphane Leblanc (“Mr. Leblanc“) acquired beneficial ownership of common shares and convertible securities of the Corporation exceeding 10% of the outstanding common shares of the Corporation on a partially diluted basis.
This reporting threshold was reached on June 4, 2016 with the acquisition of 4,000,000 common shares in the capital of the Corporation (each a “Share“), acquired pursuant to a shares for debt transaction for investment purposes (the “Triggering Block“). Prior to the acquisition of the Triggering Block, Mr. Leblanc had the beneficial ownership of 7,267,033 Shares and 800,000 Share purchase options for investment purposes (the “Prior Shares“) (the Triggering Block and the Prior Shares collectively referred to as the “Acquisition“). Mr. Leblanc reserves the right to purchase additional securities of the Corporation or from time to time to dispose of any securities of the Issuer that he may own.
Following the Acquisition, Mr. Leblanc holds, directly or indirectly, a total of 11,267,033 Shares, representing approximately 15,14% of the currently issued and outstanding Shares (or 12,067,033 Shares representing approximately 16,04% of the currently issued and outstanding Shares assuming all options held by Mr. Leblanc are exercised and converted into Shares).
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the Corporation’s profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters.
Mr. Leblanc has provided the above information to the Corporation for inclusion in this news release.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.