Press Release in Accordance With National Instrument 62-103
Funtastic Holdings Limited Approaches 20% Ownership in Slyce Inc.
(firmenpresse) - HONG KONG, CHINA -- (Marketwired) -- 04/15/16 -- Pursuant to a private placement, Funtastic Holdings Limited ("Funtastic") acquired ownership of 34,650,000 units (the "Units") of Slyce Inc. (the "Corporation") at a price of $0.10 per Unit, with each Unit being comprised of one common share in the capital of the Corporation; one half of one warrant, with each whole warrant entitling the holder thereof to purchase one common share at a price of $0.12 per share for a period of 3 years; and one half of one warrant, with each whole warrant entitling the holder thereof to purchase one common share at a price of $0.20 per share for a period of 4 years. A total of 34,650,000 were issued in three tranches on February 22, 2016 (16,000,000 Units), February 29, 2016 (17,750,000 Units) and March 24, 2016 (900,000 Units).
The Common Shares and Warrants were issued by the Corporation in reliance upon the accredited investor exemption contained in Section 2.3 of National Instrument 45-106 - Prospectus and Registration Exemptions and Alberta Instrument 72-501 - Distribution of Securities outside Alberta. Pursuant to those exemptions, the Common Shares and Warrants are initially subject to a four-month hold period.
Prior to giving effect to the foregoing acquisition of securities, Funtastic held 2,263,217 common shares of the Corporation. After giving effect to the acquisition of the Units, Funtastic owns or controls 36,913,217 Common Shares (or approximately 19.98% of the issued and outstanding Common Shares (non-diluted)) and 34,650,000 Warrants.
In the future, Funtastic may acquire additional securities of the Corporation, dispose of some or all of the securities it now owns or controls, or continue to hold its current position.
The Common Shares of the Corporation are listed on the TSX Venture Exchange under the trading symbol "SLC".
For further information or to receive a copy of the early warning report filed by Funtastic with securities regulatory authorities in Canada in connection with this press release, please contact Jason Budovitch, a director of Funtastic, at .
Contacts:
Jason Budovitch
a director of Funtastic
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Datum: 15.04.2016 - 14:34 Uhr
Sprache: Deutsch
News-ID 1428477
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