TORONTO, June 01, 2021 (GLOBE NEWSWIRE) -- (TSXV: RSE) – Michael Zych (the "Acquiror"), Chief Financial Officer, Corporate Secretary and a Director of Rise Capital Corp. (the "Corporation"), announces in accordance with the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and applicable Canadian securities legislation (collectively, "NI 62-103") that on May 26, 2021 he acquired beneficial ownership of an aggregate of 4,000,000 common shares of the Corporation (the "Shares") for total consideration of $800,000 pursuant to the Corporation's initial public offering of 45,000,000 Shares at $0.20 per Share (the "Offering"). Prior to the Offering, the Acquiror beneficially owned 2,000,001 Shares, representing approximately 20.00001% of the Corporation's issued and outstanding Shares. On May 26, 2021, The Acquiror acquired beneficial ownership of 4,000,000 Shares, which resulted in the cumulative acquisition of 6,000,001 Shares, representing approximately 10.91% of the Shares issued and outstanding immediately after the completion of the Offering, thereby triggering the requirement to file an early warning report under NI 62-103.
While the Acquiror currently has no plans or intentions with respect to the Shares, depending on market conditions, general economic and industry conditions, trading prices of the Shares, the Company's business, financial condition and prospects and/or other relevant factors, the Acquiror may develop such plans or intentions in the future and, at such time, may from time to time acquire additional Shares, dispose of some or all of the existing or additional Shares or may continue to hold the Shares of the Company.
A copy of the early warning report filed by the Acquiror will be available on the Company's SEDAR profile at www.sedar.com or may be obtained by contacting Michael Zych at (905) 825-4011. The Company's head office is located 20 Holly Street, Suite 300, Toronto, Ontario, M4S 3B1.
For further information, please contact:
Michael Zych, Chief Financial Officer, Corporate Secretary and Director at (905) 825-4011.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.