EARLY WARNING PRESS RELEASE
Till Capital Ltd. (Nasdaq:TIL)
(TSX.V:TIL) ("
Till") announces that warrants
("
Warrants") to purchase 3,000,000 common shares
("
Common Shares") of DeepMarkit Corp. (TSX.V:MKT)
("the "
Issuer") at an exercise price of $0.10 per
share previously held by Till, indirectly through a wholly-owned
subsidiary, expired unexercised on October 9, 2017. Following
expiration of the Warrants, Till has control or direction over
5,532,500 Common Shares and Warrants to purchase 1,500,000 Common
Shares of the Issuer. If all of the Warrants held by Till are
exercised, and assuming no other exercise of convertible securities
of the Issuer, Till would have control and direction over
approximately 7.79% (on a partially diluted basis) of the
88,777,733 Common Shares of the Issuer currently outstanding, and
as a result, is no longer considered a reporting insider of the
Issuer. Prior to the expiration of the Warrants, Till had control
and direction over 5,532,500 Common Shares and Warrants to purchase
4,500,000 Common Shares. If all of Till's Warrants were exercised
at the time, and assuming no other exercise of convertible
securities of the Issuer, Till would have had control and direction
over approximately 10.76% of the Issuer's outstanding Common Shares
(on a partially diluted basis) as at August 25, 2017.
The Issuer's head office address is located at
Suite 100, 750 11th St. SW, Calgary, Alberta, T2P 3N7, Canada.
The Issuer's Common Shares are listed on the TSX Venture
Exchange.
Till holds the remaining Common Shares and
Warrants for investment purposes and in the future, Till, on its
own or through a wholly-owned subsidiary, may acquire additional
securities of the Issuer or dispose of such securities subject to a
number of factors, including general market and economic conditions
and other available investment and business opportunities.
For more information please refer to Till's
Early Warning Report (the "Report") dated October
10, 2017. A copy of the Report is available on the Issuer's SEDAR
profile at www.sedar.com or can be obtained from Till at the
contact details below.
Neither the TSX Venture Exchange ("TSX-V") nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX-V) accepts responsibility for the adequacy or
accuracy of this release.
For more information communicate
with:Till Capital Ltd. 13403 N. Government Way,
Suite 212 Hayden, Idaho, USA
83835Attention: Brian P. Lupien,
Chief Financial OfficerTelephone No.
208-635-5415
Reported by:
John T. RickardDirector and Chief
Executive Officer(208) 635-5415
Till Capital Ltd.
Till Capital Ltd. is a Bermuda-domiciled company
with two wholly-owned subsidiaries, Omega Insurance Holdings Inc.
and Resource Re Ltd. Omega Insurance Holdings Inc. owns Omega
General Insurance Company, a Canadian insurance company offering
innovative and customized insurance industry solutions, including
fronting and run-off services for insurers/reinsurers, within the
Canadian marketplace. Omega Insurance Holdings Inc. also
operates Focus Group Inc., a consulting and project management
company servicing the local and international needs of its Property
Casualty Insurance clients. Resource Re Ltd. is a Bermuda-domiciled
reinsurance company regulated by the Bermuda Monetary Authority
with a Class 3A insurance license directed to underwrite
reinsurance policies within a long term investment strategy.
Through its regulated subsidiaries, the Company has been structured
to produce underwriting profits as well as above average returns on
assets under management.
For additional information:
Till Capital Ltd. (208)
699-6097info@tillcap.com www.tillcap.com
Cautionary NoteAt this time, the Company has no
current plans to provide earnings guidance due to the volatility of
investment returns.
The Till Capital shares are restricted voting
shares, whereby no single shareholder of Till Capital is able to
exercise voting rights for more than 9.9% of the voting rights of
the total issued and outstanding Till Capital shares (the
“9.9% Restriction”). However, if any one
shareholder of Till Capital beneficially owns, or exercises control
or direction over, more than 50% of the issued and outstanding Till
Capital shares, the 9.9% Restriction will cease to apply to the
Till Capital shares.
This news release shall not constitute an offer
to sell or a solicitation of an offer to buy any securities of Till
Capital or any other securities, and shall not constitute an offer,
solicitation or sale in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful. Trading in the
securities of Till Capital should be considered speculative.
Neither the TSX Venture Exchange nor its
Regulatory Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) nor the Bermuda Monetary
Authority accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statement Regarding Forward
Looking InformationExcept for statements of historical
fact, this news release contains certain “forward-looking
information” within the meaning of applicable securities laws.
These forward-looking statements are intended to qualify for the
safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995, and generally can be identified by
phrases such as “plan”, “except”, “project”, “intend”, “believe”,
“anticipate”, “estimate”, “will”, “could” and other similar words,
or statements that certain events or conditions “may” occur.
Such forward-looking statements include, but are not
limited to, those relating to the filing of the Early Warning
Report, and are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements. These and all subsequent
written and oral forward-looking information are based on estimates
and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Except as
required by law, Till Capital assumes no obligation to update
forward-looking information should circumstances or management’s
estimates or opinions change.
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