TORONTO, ONTARIO -- (Marketwired) -- 08/15/17 -- GG North America Investments Limited Partnership (the "Acquiror"), a member of the Great Gulf group of companies ("Great Gulf"), announced today that it has acquired an aggregate of 5,000,000 units ("Units") of Terra Firma Capital Corporation (the "Company") pursuant to a non-brokered private placement at a price of $0.65 per Unit, for an aggregate consideration of $3,250,000. Each Unit is comprised of one common share ("Common Share") and one Common Share purchase warrant ("Warrant") of the Company. Each Warrant is exercisable for one Common Share at a price of $0.85 per share for a period of 36 months from the date hereof. The 5,000,000 Common Shares acquired represent approximately 7.8% of the outstanding Common Shares of the Company, and the Warrants represent the right to acquire a further approximately 7.8% of the outstanding Common Shares of the Company.
Immediately prior to the completion of the private placement, the Acquiror did not beneficially own or have control or direction over any Common Shares of the Company. The Acquiror acquired the Units for investment purposes as part of a previously announced strategic alliance between Great Gulf and the Company.
The business address of the Acquiror is located at 3751 Victoria Park Avenue, Toronto, Ontario, M1W 3Z4.
A copy of the early warning report required to be filed under applicable securities laws will be available under the Company's profile on the SEDAR website at www.sedar.com.
Contacts:
For further information or to obtain a copy of the
related earning warning report, please contact:
Madeline Zito, Vice President Public Relations Great Gulf
B 416 744 2222 / C 647 938 1851
madeline.zito@greatgulf.com
www.greatgulf.com
