|By Marketwired .||
|July 2, 2014 02:46 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/02/14 -- On June 30, 2014, Inovalis S.A. ("Inovalis") acquired 8,615,384 common shares ("Common Shares") of TitanStar Properties Inc. ("TitanStar") (TSX VENTURE:TSP), representing approximately 13.4% of the issued and outstanding Common Shares, at a price of $0.08125 per share pursuant to a non-brokered private placement offering of TitanStar.
As a result of the private placement, Inovalis now directly owns or controls 8,615,384 Common Shares, representing approximately 13.4% of the issued and outstanding Common Shares. Inovalis acquired the Common Shares for investment purposes only and may, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over, or exercise their rights to acquire Common Shares (or other securities of TitanStar) through market transactions, private agreements or otherwise.
Copies of the press release announcing the completion of the private placement and the early warning report required to be filed in accordance with applicable Canadian securities laws are available on SEDAR at www.sedar.com.
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