Miami, Florida--(Newsfile Corp. - March 19, 2019) - Jose Hidalgo, a director and Chief Executive Officer of Cansortium Inc., 82 NE 26th Street, Unit 110, Miami Florida 33137 (the "Company"), has filed an early warning report with respect to his shareholdings of the Company. Mr. Hidalgo has ownership and control over 202 Common Shares (the "Common Shares") and 1,662,289 Proportionate Voting Shares (the "Proportionate Voting Shares") of the Company, representing approximately 0% of the Company's currently issued and outstanding Common Shares and 12.7% of the Company's currently issued and outstanding Proportionate Voting Shares. If the Proportionate Voting Shares were to be converted into Common Shares, the shares referred to above would represent 16,623,092 Common Shares (being approximately 10% of all of the Common Shares of the Company on an as-converted basis).
Mr. Hidalgo, together with the family trust controlled by his spouse, would own in the aggregate 402 Common Shares and 2,462,169 Proportionate Voting Shares, representing approximately 0% of the Company's currently issued and outstanding Common Shares and 18.7% of the Company's currently issued and outstanding Proportionate Voting Shares. If the Proportionate Voting Shares were to be converted into Common Shares, the shares referred to above would represent 24,622,092 Common Shares (being approximately 15% of all of the Common Shares of the Issuer on an as-converted basis).
Mr. Hidalgo acquired the Common Shares and Proportionate Voting Shares as part of a reorganization (as set out in the final prospectus of the Company dated March 15, 2019) which effectively allowed Mr. Hidalgo (and all of the other holders of Cansortium Holdings LLC) to exchange his previous ownership interest in the Company's operating subsidiary for shares in the Company, in contemplation of the Company's initial public offering.
Source and Information:
Jose Hidalgo
7320 SW 121st Street
Pinecrest Florida 33156
This news release is issued pursuant to National Instrument 62-103: The Early Warning System and Related Take-over Bid and Insider Reporting Issues. A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting Jose Hidalgo c/o Cansortium Inc., at 82 NE 26th Street, Unit 110, Miami Florida 33137, Tel: 305-900-6266.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43531
