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TORONTO, ONTARIO--(Marketwired - Feb 19, 2016) - On February 18, 2016, Ronald McEachern (the "Offeror") acquired, through One St. Thomas Holdings Inc. (a holding company controlled by Mr. McEachern), ownership and control of 2,934,311 common shares (the "Acquired Shares") of Niagara Ventures Corporation (the "Issuer"). The Acquired Shares represent 14.7% of the issued and outstanding common shares of the Issuer.
Immediately following the acquisition of the Acquired Shares, the Offeror (inclusive of One St. Thomas Holdings Inc.) owns and controls 3,731,866 common shares of the Issuer, representing 18.7% of the issued and outstanding common shares of the Issuer (or 4,171,866 common shares of the Issuer, representing 20.4% of the issued and outstanding common shares of the Issuer, assuming the exercise of all options held by the Offeror).
The Acquired Shares were acquired by way of private agreement and the Offeror paid an aggregate of $146,715.55 for the Acquired Shares ($0.05 per Acquired Share).
The Offeror acquired the Acquired Shares for investment purposes only. The Offeror may in the future take such actions in respect of his holdings as deemed appropriate in light of the circumstances then existing, including the purchase of additional common shares or other securities of the Issuer through open market purchases or privately negotiated transactions, or the sale of all or a portion of his holdings in the open market or in privately negotiated transactions to one or more purchasers.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will be filed under the SEDAR profile of the Issuer at www.sedar.com.
A copy of the Early Warning Report may also be obtained by contacting Ronald McEachern at: (416) 669-1016.