Wade Dawe News Release Related to Acquisition of Common Shares of eXeBlock Technology Corporation
Wade Dawe has acquired 4,000,000 common shares and 4,000,000 common share purchase warrants of eXeBlock Technology (EXXBF) through a private placement on January 7, 2025.
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Rhea-AI Summary
Wade Dawe has acquired 4,000,000 common shares and 4,000,000 common share purchase warrants of eXeBlock Technology (EXXBF) through a private placement on January 7, 2025. The warrants have an exercise price of $0.06 and expire on January 7, 2027.
Prior to this acquisition, Dawe owned 6,173,100 shares directly and indirectly through Brigus Capital and Kelligrew. Following the purchase, his total holdings increased to 10,173,100 common shares, representing approximately 13.47% of eXeBlock's 75,529,031 outstanding shares. On a partially diluted basis, his ownership stands at 17.82%.
The acquisition was made for investment purposes, and Dawe may adjust his investment position based on market conditions or other factors.
Positive
- Significant insider investment shows confidence in company
- Large warrant position with 2-year exercise window at $0.06
- Substantial increase in ownership stake from single investor
Negative
- Potential share dilution if warrants are exercised
- Single investor gaining significant control (17.82% on partially diluted basis)
Details
News Market Reaction – EXXBF
The recorded move for EXXBF in the trading session of this news was +115.67%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Halifax, Nova Scotia--(Newsfile Corp. - January 8, 2025) - Wade Dawe has filed an early warning report announcing that, on January 7, 2025, he acquired an additional 4,000,000 common shares and 4,000,000 common share purchase warrants of eXeBlock Technology Corporation ("eXeBlock") in a private placement financing. Each warrant has an exercise price of
Upon purchase of these additional common shares, Mr. Dawe directly and indirectly holds 10,173,100 common shares of eXeBlock, representing approximately
The common shares of eXeBlock were acquired for investment purposes. Mr. Dawe may increase or decrease his investment in eXeBlock depending upon future market conditions or any other relevant factors.
This news release is being issued as required by National Instrument 62-103 — The Early Warning System and Related TakeOver Bid and Insider Reporting Issues in connection with the filing of an Early Warning Report dated January 8, 2025. The Early Warning Report respecting this acquisition has been filed on SEDAR+.
For further information, please contact:
Mr. Wade Dawe
(902) 422-1421
2001-1969 Upper Water Street,
Halifax, NS B3J 3R7
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236429
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