EDMONTON, ALBERTA--(Marketwired - March 31, 2016) - Mr. R. Dwayne Kushniruk ("Kushniruk") announces that he has acquired ownership and control of 1,879,095 units ("Units") of OneSoft Solutions Inc. (the "Corporation"), which Units are comprised of 1,879,095 common shares (the "Common Shares") in the capital of the Corporation and 1,879,095 Common Share purchase warrants (the "Warrants") entitling Kushniruk to purchase an additional 1,879,095 Common Shares (the "Warrant Shares") at a price of $0.15 per Warrant Shares. The Warrant Shares expire two (2) years from the date of closing, subject to an acceleration clause. The Common Shares acquired represent 2.95% of the issued and outstanding common shares of the Corporation on an undiluted basis, and the Warrants, if exercised, will provide Kushniruk with Warrant Shares representing a maximum of an additional 2.87% of the then issued and outstanding common shares of the Corporation. The Units were acquired by Kushniruk pursuant to the terms of a private placement subscription agreement at a price of $0.075 per Common Share for a total purchase price of $140,932.
Prior to the acquisition, Kushniruk was deemed to have ownership and control of 8,887,809 Common Shares representing approximately 18.94% of the then issued and outstanding Common Shares of the Corporation. Of this amount, Kushniruk owned, directly or indirectly, 2,780,279 Common Shares of record and beneficially owns 1,532,250 Common Shares though his wholly owned corporations and as well an additional 4,575,280 Common Shares through Bridge Solutions Inc., a wholly-owned subsidiary of the Corporation. As a result of and immediately following the acquisition of Common Shares, Kushniruk has ownership and control of 10,766,904 Common Shares representing 16.93% of the issued and outstanding Common Shares of the Corporation.
Kushniruk is acquiring the Common Shares for investment purposes only. Other than the Warrants set forth herein, and 350,000 options which had been previously granted, Kushniruk has no further rights to acquire any other securities of the Corporation. He may also, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over the shares of the Corporation or other securities of the Corporation, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.
The Common Shares were distributed pursuant to an exemption from the prospectus and registration requirements set out in Section 2.5 of National Instrument 45-106 - Prospectus and Registration Exemptions.
Neither the 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 or accuracy of this release.
The issuance of this news release is not an admission that an entity named in the news release owns or controls any described securities or is a joint actor with another named entity.
Contact Information:
dkushniruk@onesoft.ca
(780) 248-5794