MM Asset Management Acquired Control Over Common Shares of Innova Gaming Group
TORONTO, ONTARIO--(Marketwired - March 16, 2017) - MM Asset Management Inc. ("MMAM") announced that it has acquired, on behalf of MMCAP International Inc. SPC ("MMCAP"), an investment fund advised by MMAM, an aggregate of 200,000 common shares ("Shares") of Innova Gaming Group Inc. ("Innova") through the facilities of the Toronto Stock Exchange at an average price of $2.05 per share.
Following the acquisition of these 200,000 Shares, MMAM exercises control or direction over 2,044,100 Shares, which represents, as at March 15, 2017, approximately 10.11% of Innova's 20,220,900 outstanding Shares, as reported by Innova in its Management Discussion and Analysis dated November 10, 2016.
MMAM has acquired such securities for investment purposes only. Depending on market conditions and other factors, MMAM, on behalf of MMCAP, may from time to time acquire additional securities of Innova or dispose of such securities in the open market, by private agreement or otherwise.
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