|By Marketwired .||
|July 25, 2014 04:15 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 07/25/14 -- Earth Alive Clean Technologies Inc. (CSE:EAC) ("Earth Alive") reports that One Drop Investments Inc., has acquired 3,214,286 common shares of Earth Alive in a private transaction, at the price of 0.15 $ each. As a result of the foregoing acquisition, One Drop Investments Inc. now has direct and indirect control and direction over 13,928,572 common shares of Earth Alive, representing approximately 17.01% of the issued and outstanding 81,890,501 common shares of Earth Alive on a non-diluted basis.
The securities acquired will be held for investment purposes and One Drop Investments Inc. may, depending on market and other conditions, increase or decrease its beneficial ownership of Earth Alive's securities, whether in the open market, by privately negotiated agreements or otherwise.
The securities acquired, which form part of a control block held by Mr. David Gilmour, the President & CEO of Earth Alive, will be subject to a hold period of four months and one day.
This press release is issued pursuant to National Instrument 62-104, which also requires a report to be filed with the applicable securities regulatory authorities concerning additional information with respect to the foregoing acquisition. An early warning report in respect of the transactions will be filed with the relevant Canadian securities regulatory authorities and copies of such reports may be obtained from SEDAR at www.sedar.com under Earth Alive's profile.
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.