CEO loading up
Mr. Terry Taouss reports
PAUL ROSEN ANNOUNCES HOLDINGS IN TIDAL ROYALTY CORP.
Paul Rosen has acquired the following securities of Tidal Royalty Corp., of 789 West Pender St., Suite 810, Vancouver, B.C., V6C 1H2: (i) 12 million special warrants at a price of five cents per special warrant (for aggregate consideration of $600,000) on Feb. 8, 2018, as part of a non-brokered private placement of special warrants of Tidal Royalty, each of which special warrants converted into one common share of Tidal Royalty and one common share purchase warrant of Tidal Royalty on June 8, 2018; (ii) 4,695,000 shares on the public market of the Canadian Securities Exchange in a series of transactions from July 13, 2018, to Dec. 21, 2018, at prices ranging from 9.5 U.S. cents to 67 U.S. cents per share (for aggregate consideration of $1,194,013.08 (U.S.)); and (iii) 4.62 million stock options to acquire 4.62 million shares on June 22, 2018, and 250,000 (1) stock options to acquire 250,000 shares on Dec. 12, 2018.
(1) Two million stock options to acquire two million shares were awarded to Mr. Rosen on Dec. 12, 2018; however, per the vesting terms, only 250,000 options are exercisable for shares within 60 days following the date of this press release.
Immediately prior to the Reportable Transaction, Mr. Rosen did not own or exercise control or direction over any securities of Tidal Royalty. Following the Reportable Transaction, Mr. Rosen held direct ownership of 16,695,000 Shares representing approximately 6.39% of the 261,397,661 issued and outstanding Shares of Tidal Royalty. Mr. Rosen also holds 4,870,000 Options and 12,000,000 Warrants for the purchase of an additional 12,000,000 Shares. Assuming the exercise of both the Options and Warrants in full, Mr. Rosen would own a total of 33,565,000 Shares, or approximately 12.06% of Tidal Royalty's then 278,267,661 issued and outstanding Shares (assuming no other Shares are issued).
The Special Warrants, Shares and Warrants were acquired by Mr. Rosen for investment purposes. Mr. Rosen may acquire additional securities or dispose of existing securities on the basis of Mr. Rosen's assessment of market conditions and in compliance with applicable securities regulatory requirements.
This news release is being issued pursuant to Part 3 of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the early warning report filed by Mr. Rosen in connection with the acquisition of the securities is available on Tidal Royalty's SEDAR profile and can also be obtained by contacting Tidal Royalty as set out below.
AI
