Toronto, Ontario--(Newsfile Corp. - February 22, 2024) - Amarvir Gill (the "Acquiror"), the President, Chief Executive Officer and a Director of Biosenta Inc. ("Biosenta") listed on the Canadian Securities Exchange (CSE: ZRO) announces that he acquired 1,250,000 common shares (the "Shares") and 625,000 warrants to purchase common shares (the "Warrants") pursuant to a debt settlement transaction whereby Biosenta issued the Shares 1,250,000 and 625,000 Warrants to settle $500,000 in debt owed to the Acquiror (the "Debt Settlement Transaction").
Prior to the Debt Settlement Transaction, the Acquiror owned 3,764,380 Shares, representing 13.61% of the then issued and outstanding Shares and had ownership of stock options to acquire 270,000 Shares (the "Options"). If the Options were to be exercised, the Acquiror would have had ownership or control over 4,034,380 Shares, representing 14.45% of the then issued and outstanding Shares, on a partially diluted basis.
Following the Offering, the Acquiror has control over 5,014,380 Shares, representing 16.93% of the issued and outstanding Shares following the Debt Settlement Transaction and has ownership of 625,000 Warrants and 270,000 Options. If the Warrants and Options are exercised, the Acquiror will have ownership or control over 5,909,380 Shares, representing 19.37% of the currently issued and outstanding Shares, on a partially diluted basis.
The Acquiror does not have any current plans or future intentions which relate to or would result in any of the events, transactions or circumstances enumerated in paragraphs (a) - (k) in the early warning report filed with the press release (the "Early Warning Report").
In accordance with applicable securities laws, the Acquiror may, from time to time and at any time, acquire additional Shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of Biosenta in the open market or otherwise, and Acquiror reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Biosenta and other relevant factors.
The head office of Biosenta is 18 Wynford Drive, Toronto, Ontario M3C 3S2.
For further information please refer to the Early Warning Report to be posted on Biosenta's SEDAR+ profile at www.sedarplus.ca or which may be obtained by contacting the Acquiror at 416- 410-2019.
For further information contact:
Am Gill, President and CEO Biosenta Inc.
18 Wynford Drive, Suite 704
Toronto, ON M3C 3S2
Phone: 416-410-2019
Email: am@biosenta.com
info@biosenta.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198909
SOURCE: Biosenta Inc.
