|By Marketwired .||
|February 19, 2014 06:43 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/19/14 -- Mr. Ian Ihnatowycz, announced today that he has entered into an agreement to acquire 9,203,797 common shares of Trimel Pharmaceuticals Corporation (the "Issuer") at $0.711 per share through his private investment holding company First Generation Capital Inc. The purchase will be made on a private placement basis from the Issuer and is expected to close next week.
Following the purchase, the Mr. Ihnatowycz will hold a total of 38,656,297 common shares of the Issuer, corresponding to a securityholding percentage, calculated in accordance with National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of approximately 23.70%.
The securities of the Issuer were acquired for investment purposes. Depending upon the circumstances, Mr. Ihnatowycz 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 previously acquired.
Additional information is provided in the early warning report filed on www.sedar.com.
For further information or a copy of
the early warning report please contact:
First Generation Capital Inc.
40 King Street West, Suite 3515
Toronto, ON M5H 3Y2
President and CEO