Toronto, Ontario--(Newsfile Corp. - March 29, 2018) - TJR Coatings Inc. ("TJR") is pleased to announce the completion of the reverse takeover ("RTO") by 2618249 Ontario Corp. (DBA "DigiCrypts") as previously announced and described by TJR in a press release dated February 9, 2018.
Pursuant to the RTO, TJR issued 193,600,000 common shares at a deemed price of $0.025 per common share in exchange for all of the issued and outstanding shares of DigiCrypts. TJR also issued 21,300,000 share purchase warrants under the same terms and conditions of the warrants issued by DigiCrypts. Each warrant being exercisable into one (1) TJR common share at an exercise price of $0.05 per share and expiring on the earlier of (i) the date that is two (2) years from the date of such warrant's issuance, or (ii) 30 days following the date that a notice is delivered from TJR to the holder of the warrant that the TJR shares have traded on a stock exchange for 10 consecutive days at a closing price in excess of $0.10. DigiCrypts completed a non-brokered financing of $1,065,000 prior to closing.
As a result of the RTO, TJR has 215,963,636 common shares and 21,300,000 warrants outstanding. The resulting issuer repaid $100,000 out of $366,885 in shareholder loans due to Mr. Robert Salna in full and final settlement of such loans.
Effective on the closing, Ms. Inga Gretcheva and Mr. Robert Salna resigned as directors of TJR and were replaced by Messrs. David Posner, David Bhumgara and Yoni Asharov. Mr. Edward Murphy resigned as Chief Executive Officer and Chief Financial Officer. He will remain on the Board of Directors. Mr. Chris Carl was appointed as President, Grigori Limonov was appointed as VP Business Development, Stanislavs Milcareks was appointed VP Global Marketing and Sergey Shilnov was appointed as Chief Technical Officer.
About DigiCrypts
DigiCrypts is a private Ontario company, formed with a focus on three different businesses within the crypto coin and blockchain industries on a global basis. These business applications include the formation of a large quantity of application-specific crypto mining machines in the province of Quebec, acting as broker for third parties seeking to complete initial coin offerings, and to establish a new crypto coin that can be used globally. DigiCrypts has established strong industry relationships in all three platforms, and will seek to advance its businesses within each platform immediately following the Transaction.
For Further Information Contact:
Chris Carl
President
TJR Coatings Inc.
Email: chriscarl@rogers.com
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.
TJR's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
