TORONTO, April 09, 2018 (GLOBE NEWSWIRE) -- On April 6, 2018, Jared Berry (the “Acquiror”), c/o 1712 Pioneer Avenue, Suite 1923, Cheyenne, Wyoming, 82001, USA, disposed of an aggregate of 4,500 common shares (the “Subject Shares”) of Isodiol International Inc. (the “Issuer”) in settlement of certain debt obligations owing by the Acquiror to a third party (the “Disposition”). The Issuer’s head office is located at 1212 Austin Avenue, Coquitlam, British Columbia V3K 3P5.
On December 14, 2017, the Acquiror reported the ownership and control over an aggregate of 40,500,000 common shares of the Issuer representing approximately 16.7% of the issued and outstanding common shares of the Issuer on a non-diluted basis. As of the date hereof and after giving effect to the Disposition, the Acquiror has ownership and control over an aggregate of 40,495,500 common shares of the Issuer representing approximately 13.42% of the issued and outstanding common shares of the Issuer on a non-diluted basis. The 4,500 Subject Shares were disposed of at a deemed price of approximately $0.889 per share for aggregate consideration of $4,000.
The Subject Shares were disposed of for investment purposes. The Acquiror may, from time to time, directly or indirectly, take such actions in respect of his holdings in securities of the Issuer, as he may deem appropriate, in light of the circumstances then existing, including the purchase of additional common shares or other securities of the Issuer or the disposition of all or a portion of his securityholdings in the Issuer, subject in each case to applicable securities laws and the terms of such securities. The Acquiror has the right to nominate two members of the board of directors, which right the Acquiror has not exercised as of the date hereof.
Pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, the Acquiror will file an early warning report in respect of the Dispostion with the applicable Canadian securities regulators, a copy of which will be available under the Issuer’s profile at www.sedar.com. A copy of the early warning report can be obtained by contacting the Acquiror at (951) 500-7356.
Jared Berry
(951) 500-7356