TORONTO – SOL Global Investments Corp. (the “Company” or “SOL Global”) (CSE: SOL) (OTCQ SOLCF) (Frankfurt: 9SB) announces that on December 20, 2021 it acquired ownership of 62,500 common shares (the “Common Shares”) in the capital of Atmofizer Technologies Inc. (“ATMO”) on the Canadian Securities Exchange (the “CSE”) at an average price of CAD$2.618 per Common Share (the “Transaction”). The completion of the Transaction resulted in an increase from approximately 8.34% to approximately 8.42% in SOL Global’s security holding percentage of the issued and outstanding Common Shares on a non-diluted basis. In addition, SOL Global owns 1,299,999 Common Share purchase warrants (the “Warrants”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of USD$3.50 for a period of 24 months from the date of issuance. Assuming that all of the Warrants are each exercised immediately following the completion of the Transaction for one Common Share, SOL Global would have owned approximately 10.00% of the issued and outstanding Common Shares on a partially-diluted basis.
The Company acquired the securities reported herein for investment purposes. The Company may, depending on market and other conditions, increase or decrease its beneficial ownership in ATMO’s securities, whether in transactions over the open market, by privately negotiated arrangements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
This news release, and the early warning report filed in connection with the Transaction, was filed late due to administrative error. Since the date of the Transaction, SOL Global has continued to trade securities of ATMO in the ordinary course on the CSE. SOL Global’s purpose for trading the ATMO securities, the manner in which it trades ATMO securities and the overall volume and nature of trading has been conducted in the ordinary course since the date of the Transaction. As of the date hereof, SOL Global holds approximately 9.0% of the issued and outstanding Common Shares on a non-diluted basis. In addition, SOL Global owns 1,299,999 Warrants as of the date hereof. Assuming that all of the Warrants are each exercised for one Common Share, SOL Global owned approximately 10.58% of the issued and outstanding Common Shares on a partially-diluted basis.
This news release is being issued to comply with National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report will be filed and available on SEDAR regarding the Transaction. To obtain more information or to obtain a copy of the early warning report to be filed in respect of this news release, please contact SOL Global at the contact details noted below.
About SOL Global Investments Corp.
SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. SOL Global’s investment partnerships range from minority positions to large strategic holdings with active advisory mandates. The Company’s seven primary business segments include Retail, Agriculture, QSR & Hospitality, Media Technology & Gaming, and New Age Wellness.
The Company’s head office is located at 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9. ATMOS’s head office is located at 550 Burrard Street, Suite 2300, Bentall 5, Vancouver, British Columbia, V6C 2B5.
