George Lunick Announces Acquisition of Common Shares of Pearl River Holdings Limited
28 February 2023 - 7:32AM
PEARL RIVER HOLDINGS LIMITED (“
Pearl
River”) (TSXV: PRH) announced today that it understands
that George Lunick (the "
Acquiror"), the
President and Chief Executive Officer of Pearl River, acquired
250,000 common shares (the "
Common Shares") in the
capital of Pearl River at a price of $0.28 per Common Share,
representing 0.92% of the issued and outstanding Common Shares of
Pearl River. The Common Shares were offered and purchased through
the facilities of the TSX Venture Exchange for an aggregate
purchase price of $70,000.
Immediately before the acquisition, the Acquiror
and its "joint actors" (as defined in National Instrument 61-103 –
The Early Warning System and Related Take-Over Bid and Insider
Reporting Issues) owned and controlled 2,129,893 Common Shares,
being approximately 7.80% of the issued and outstanding Common
Shares of Pearl River, and 1,000,000 options to purchase Common
Shares (the “Options”). Assuming the exercise of
the Options, the Common Shares of Pearl River that the Acquiror and
the joint actors would own or control on such exercise would be
3,129,893 Common Shares, or approximately 11.06% of the Common
Shares of Pearl River on a partially diluted basis.
Immediately after the acquisition, the Acquiror
and is joint actors, owned or controlled 2,379,893 Common Shares,
being approximately 8.71% of the issued and outstanding Common
Shares of Pearl River. Assuming the exercise of the Options, the
Common Shares of Pearl River that the Acquiror and the joint actors
would own or control on such exercise would be 3,379,893 Common
Shares, or approximately 11.94% of the Common Shares of Pearl River
on a partially diluted basis.
The securities of Pearl River were acquired for
investment purposes. The Acquiror reserves the right, directly or
indirectly, to acquire ownership or control over additional
securities in accordance with applicable securities legislation or
from time to time to dispose of any securities of Pearl River that
the Acquiror may own.
A copy of the Early Warning Report will appear
on Pearl River’s profile on SEDAR.
The address of the Acquiror and Pearl River is
Suite 500 - 383 Richmond Street, London, Ontario, N6A 3C4.
ABOUT PEARL RIVER
Through its subsidiaries, Pearl River's
principal business is the manufacturing and distribution of plastic
products in China, Australia and the United States of America.
For further information please contact:
George LunickChief Executive OfficerT: (519)
645-0267E: george@lunick.ca
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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