Quantcast

Press Release for Early Warning Report Regarding Rubicon Organics Inc.

VANCOUVER, British Columbia, June 01, 2020 (GLOBE NEWSWIRE) — Eric Savics, of 505-744 West Hastings Street, Vancouver, BC, V6C 1A5, today announced that on May 29, 2020, he acquired ownership of 437,275 units (“Units”) of Rubicon Organics Inc. (“Rubicon”), a company with a head office at 505-744 West Hastings Street, Vancouver, BC, V6C 1A5, at a purchase price of C$2.35 per Unit for an aggregate purchase price of C$1,027,596.25. Each Unit consists of one common share of Rubicon (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant acquired under the Private Placement (as defined below) entitles the holder to purchase one Common Share at a price of C$3.25 per Common Share for a period of 12 months from the closing date of the Private Placement. Mr. Savics acquired ownership through a private placement transaction (the “Private Placement”) previously announced by Rubicon on May 19, 2020, May 26, 2020, and May 27, 2020.

Prior to the closing of the Private Placement, Mr. Savics owned, directly or indirectly, or exercised control or direction over 9,540,914 Common Shares, 100,000 stock options (“Options”) each entitling the holder to purchase one Common Share, and 200,000 Warrants. The 9,540,914 Common Shares represented approximately 23.87% of the total number of issued and outstanding Common Shares prior to the Private Placement. If all of his Options and Warrants were exercised, Mr. Savics would have owned, directly or indirectly, or exercised control or direction over, approximately 24.44% of the total number of issued and outstanding Common Shares on a partially diluted basis prior to the Private Placement.

After the completion of the Private Placement, Mr. Savics now owns, directly or indirectly, or exercises control or direction over, 9,978,189 Common Shares, 100,000 Options, and 637,275 Warrants. The 9,978,189 Common Shares represent approximately 22.23% of the total number of issued and outstanding Common Shares, resulting in a 1.64% change to Mr. Savics’ Common Share holdings. If all of his Options and Warrants were exercised, Mr. Savics would own, directly or indirectly, or exercise control or direction over, approximately 23.49% of the total number of issued and outstanding Common Shares, resulting in a 0.95% change to Mr. Savics’ Common Share holdings on a partially diluted basis after the completion of the Private Placement.

Mr. Savics’ acquisition was made for investment purposes.  In accordance with applicable securities laws, Mr. Savics may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Rubicon in the open market or otherwise, and reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Rubicon and other relevant factors.

Mr. Savics is not currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of Rubicon. Mr. Savics does not own or control any securities of Rubicon with, nor is Mr. Savics a joint actor with, another entity.

For more information, or to obtain a copy of the subject early warning report, please contact:

Margaret Brodie
Chief Financial Officer
Phone: 1-437-929-1964
Email: [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.