Gino DeMichele and Fram Moos Announce Early Warning Reports
CALGARY, Alberta, Jan. 08, 2018 (GLOBE NEWSWIRE) -- In connection with the option issuance announced on January 4, 2017, the Newton Energy Corporation (the "Company") issued 112,621 options to purchase common shares of the Company to Gino DeMichele. The options are exercisable at $0.25 per Share and have a term of 5 years, pursuant to the Company's stock option plan.
Prior to the option grant, Gino De Michele, in conjunction with A2 Capital Management Inc., owned or had control over 497,773 common shares, representing 16.25% of the issued and outstanding. In connection with the option grant, assuming the conversion of the options, Gino DeMichele will now own or exercise control over 19.44% of the issued and outstanding common shares of the Company.
In addition, the Company issued 50,000 options to purchase common shares to Fram Moos. The options are exercisable at $0.25 per Share and have a term of 5 years, pursuant to the Company's stock option plan.
Prior to the option grant, Fram Moos owned or had control over 225,000 common shares, 10,000 options to purchase common shares and 50,000 common share purchase warrants, representing an aggregate interest of 9.23% of the issued and outstanding common shares of the Company, assuming the conversion of the options and warrants. In connection with the option grant, Fram Moos will now own or exercise control over 10.68% of the issued and outstanding shares of the Company, assuming the conversion of all options, and warrants.
The options, warrants and common shares are being held by the each of the parties for investment purposes only, and the parties may from time to time, acquire or dispose of all or a portion of the common shares.
An early warning report will be filed by Gino DeMichele, in accordance with applicable securities laws and will be available on SEDAR, or may be obtained from Gino DeMichele, c/o Newton Energy Corp. upon request at 1600, 333 ? 7th Ave SW, Calgary, AB, T2P 2Z1, telephone: 403-680-7898.
An early warning report will be filed by Fram Moos in accordance with applicable securities laws and will be available on SEDAR, or may be obtained from Fram Moos, c/o Newton Energy Corp. upon request at 1600, 333 ? 7th Ave SW, Calgary, AB, T2P 2Z1, telephone: 403-513-2647.
An early warning report containing additional information with respect to the foregoing matters will be filed under Newton's SEDAR profile at www.sedar.com
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