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MISSISSAUGA, ONTARIO--(Marketwired - Feb 16, 2016) - Chris Panczuk has today filed an early warning report dated February 16, 2016 advising of his holdings in BeWhere Holdings Inc. (the "Issuer").
On February 4, 2016, Chris Panczuk, Chief Operating Officer and director of the Issuer, acquired beneficial ownership and control of 7,996,577 common shares (the "Common Shares") of the Issuer at a deemed price of $0.15 per share pursuant to a share exchange agreement between the Issuer, BeWhere,Inc., and the shareholders of BeWhere, Inc.
Also, on February 4, 2016, pursuant to a non-brokered private placement, Mr. Panczuk acquired beneficial ownership and control of 500,000 units at a price of $0.15 per unit, each unit consisting of one common share and one half of one common share purchase warrant, resulting in a total of 500,000 Common Shares and 250,000 common share purchase warrants ("Warrants"). Each Warrant entitles Mr. Panczuk to purchase 250,000 common shares of the Issuer at an exercise price of $0.25 per common share for a period of 36 months.
As a result of the above transactions, Mr. Panczuk beneficially owns and controls a total of 8,496,577 common shares which represents 21.11% of the issued common shares of the Issuer. If Mr. Panczuk exercises all of the Warrants, he would beneficially own a total of 8,746,577 common shares which would represent approximately 21.59% of the issued and outstanding common shares of the Issuer on a partially diluted basis.
The 7,996,577 Common Shares were acquired by Mr. Panczuk pursuant to Section 2.16 of National Instrument 45-106 Prospectus Exemptions and the 500,000 Common Shares and 250,000 Warrants were acquired by Mr. Panczuk pursuant to Section 2.3 of National Instrument 45-106 Prospectus Exemptions.
The common shares of the Issuer are listed on the TSX Venture Exchange under the trading symbol "BEW". Mr. Panczuk acquired the Common Shares and Warrants for investment purposes. Depending upon the circumstances, Mr. Panczuk may, from time to time, acquire additional securities or related financial instruments of the Issuer or dispose of all or a portion of the securities or related financial instruments of the Issuer.
The Early Warning Report has been filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE REPORT REQUIRED BY SECURITIES REGULATIONS, PLEASE CONTACT CHRIS PANCZUK.