Chou Associates Management Inc. Buys Shares of Rainmaker Entertainment Inc.
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 02/09/16 -- Chou Associates Management Inc. ("Chou") has filed an early warning report (the "Report") announcing that on February 5, 2016, Chou acquired (the "Acquisition") ownership and control over 6,092,728 common shares (the "Acquired Shares") of Rainmaker Entertainment Inc. (the "Corporation") representing approximately 34.85% of the currently issued and outstanding common shares ("Shares") of the Corporation. The Acquired Shares were acquired pursuant to a private trade at a price per share of $0.24.
Immediately prior to the Acquisition, Chou exercised control over (i) 936,800 Shares of the Corporation, representing approximately 5.36% of the outstanding Shares and (ii) $2,612,000 principal amount of convertible debentures (the "Debentures"), which Debentures mature on March 31, 2016 (the "Maturity Date") and are convertible at any time prior to the Maturity Date into 13,060,000 Shares at a price of $0.20 per share, representing approximately 42.76% of the 30,545,175 Shares deemed to be outstanding when converting the Debentures into Shares but without giving effect to the exercise of any other person''s rights to acquire Shares (that is, 30,545,175 Shares, representing the 17,485,175 Shares currently outstanding plus the 13,060,000 Shares issuable on conversion of the Debentures).
In addition, Chou America Management Inc. ("Chou America"), a corporation controlled by the same persons as Chou, exercises control over $1,782,000 principal amount of Debentures, which Debentures are convertible at any time prior to the Maturity Date into 8,910,000 Shares at a price of $0.20 per share, representing approximately 33.76% of the 26,395,175 Shares deemed to be outstanding when converting the Debentures into Shares but without giving effect to the exercise of any other person''s rights to acquire Shares (that is, 26,395,175 Shares, representing the 17,485,175 Shares currently outstanding plus the 8,910,000 Shares issuable on conversion of the Debentures).
These transactions were made for investment purposes and Chou may increase or decrease its investments in the Corporation depending on market conditions or any other relevant factor. Chou may acquire additional shares of the Corporation through the open market, privately or otherwise, as the circumstances or market conditions warrant.
A copy of the Report may be found on . A copy of the Report may also be obtained by contacting Chou at the information listed below.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this release.
Contacts:
Chou Associates Management Inc.
Francis Chou
Chief Executive Officer
Toll free: 1 888 357 5070
Chou Associates Management Inc.
110 Sheppard Ave. East
Suite 301, Box 18, Toronto ON M2N 6Y8
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Datum: 09.02.2016 - 15:30 Uhr
Sprache: Deutsch
News-ID 1414257
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