TORONTO, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Roy Sebag of 334 Adelaide St. W., Suite 307, Toronto, Ontario M5V 1R4 (“Sebag”) filed an early warning report today in connection with the acquisition of 2,000,000 common shares (the “Shares”) in the capital of Fortress Blockchain Corp. (“Fortress”) through the facilities of the TSX Venture Exchange at an average price of $0.1125 per share between November 30, 2018 and December 3, 2018 (the “Acquisitions”). Sebag paid a total of $225,000 for the Acquisitions.
Prior to the Acquisitions, Sebag had ownership or direction and control over an aggregate of 7,813,692 Fortress Shares, representing approximately 10.6% of the issued and outstanding Fortress Shares on a partially diluted basis. On an undiluted basis, Sebag owned or directed or controlled 5,356,000 Fortress Shares prior to the Acquisitions, representing 7.5% of the issued and outstanding Fortress Shares.
Following the Acquisitions, Sebag has ownership or direction or control over 9,813,692 Fortress Shares representing 13.3% of the issued and outstanding Fortress Shares on a partially diluted basis. On an undiluted basis, Sebag now holds 7,356,000 Fortress Shares, representing 10.6% of Fortress’s issued and outstanding Shares.
The Shares were purchased by Sebag for investment purposes. Sebag expects to evaluate on an ongoing basis Fortress’s financial condition, results of operations, business and prospects, the market price of the Shares, conditions in securities markets generally and in the market for shares of companies like Fortress, general economic and industry conditions and other factors that Sebag deems relevant to his investment decisions. Based on such evaluations, Sebag may at any time or from time to time determine to acquire additional Shares, or securities convertible into or exchangeable for Shares or derivative relating to Shares, or to dispose of Shares or securities convertible into or exchangeable for Shares or derivatives relating to Shares that Sebag owns or may hereafter acquire, through open market or privately negotiated transactions or otherwise, at such prices and on such terms as he deems advisable. Sebag intends to monitor his investment in the Shares. Sebag and his representatives and advisers may communicate with other shareholders, industry participants and other interested parties concerning Fortress. In addition, based on Sebag’s continuing evaluation of the foregoing factors, Sebag reserves the right to change his plans and intentions at any time or from time to time, as he deems appropriate.
Fortress Blockchain is located at 320 - 638 Broughton Street,Vancouver, British Columbia V6G 3K3.
The above-referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Fortress’s issuer profile.
For further information or to obtain a copy of the early warning report, please contact Ruab Waraich at Fortress at info@fortressblockchain.io.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.