Shareholder Files Early Warning Report Regarding High Fusion Inc.
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TORONTO, Feb. 18, 2022 (GLOBE NEWSWIRE) -- Adam Szweras and persons acting jointly or in concert with Adam Szweras (collectively, the "Acquiror"), 77 King Street West TD Centre North Tower, P.O. Box 95, Suite 3000 Toronto, Ontario M5K 1G8, announced today that the Acquiror has filed an early warning report in respect of the acquisition of subordinate voting shares ("SVS") of High Fusion Inc. (the "Issuer"). The SVS were issued in connection with the amendment and conversion of secured convertible debentures of the Issuer held by the Acquiror and the conversion of accrued payables of the Issuer owed to the Acquiror. In the aggregate, the Acquiror acquired ownership of 11,946,037 SVS at a deemed price of $0.06 per SVS.
Prior to the acquisition of the SVS described herein, the Acquiror had ownership and control over 5,107,378 SVS, representing 8.6% of the issued and outstanding SVS. Following the acquisition of the SVS described herein, the Acquiror has ownership and control over 16,990,915 SVS, representing 13.8% of the issued and outstanding SVS (in each case assuming the conversion of all securities held by the Acquiror in which the underlying security is SVS).
The Acquiror has a long-term view of its investment in the Issuer and may acquire additional securities of the Issuer including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions and other relevant factors.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System. A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com.
For further information:
Adam K. Szweras77 King Street West TD Centre North Tower, P.O. Box 95, Suite 3000 Toronto, Ontario M5K 1G8 (416) 864-9700Source: Adam K. Szweras
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