Toronto, Ontario--(Newsfile Corp. - April 19, 2022) - Jonson Sun, a director of Hire Technologies Inc. ("HIRE"), announced that he acquired control and direction over 598,896 Common Shares of HIRE (the "Acquired Shares") on March 7, 2022 through GICMB Venture Corp., a company he controls, which acquired the Acquired Shares from three shareholders of Hire through private agreements for an aggregate purchase price of $184,131.37 (the "Acquisition"). The Acquisition triggered a requirement by Mr. Sun to file an early warning report under applicable securities laws.
Immediately prior to the Acquisition, Mr. Sun controlled and had direction over, in aggregate, 7,783,639 Common Shares of the Issuer through GVC and GIC Merchant Bank Corporation ("GICMB") (an affiliate of GVC that Mr. Sun also controls) and directly owned 392,308 options of HIRE (the "Options"), representing approximately 9.28% of the total issued and outstanding Common Shares of HIRE on a non-dilute basis and 9.70% on a partially diluted basis assuming full exercise of the Options.
Immediately following the Acquisition, Mr. Sun controlled and had direction over, in aggregate, 8,382,635 Common Shares Issuer through GVC and GICMB, and directly owned 392,308 Options, representing approximately 9.99% of the total issued and outstanding Common Shares of HIRE on a non-diluted basis and 10.41% on a partially diluted basis assuming full exercise of the Options.
Mr. Sun acquired the Common Shares of HIRE for investment purposes and may, depending on the market and other conditions, increase or decrease his beneficial ownership of securities of HIRE, whether in the open market, by privately negotiated agreements or otherwise, subject to general market conditions and other available investment and business opportunities.
This press release is issued in connection with the filing of an early warning report by Mr. Sun pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issues. A copy of the early warning report filed by Mr. Sun can be viewed at HIRE's SEDAR profile at www.sedar.com.
For more information, or to obtain a copy of the early warning report, please contact:
Jonson Sun
E-mail: jonson.s@gicmb.com
Not for Dissemination in the United States or through U.S. Newswire Services
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