Calgary, Alberta--(Newsfile Corp. - November 6, 2023) - Danny Dalla-Longa announced today that on November 3, 2023 he acquired, directly or indirectly, beneficial ownership, control or direction over 28,624,108 common shares (the "Purchased Shares") of FluroTech Ltd. (the "Corporation"). Mr. Dalla-Longa acquired the Purchased Shares pursuant to a private share purchase transaction between Mr. Dalla-Longa and an existing shareholder of the Corporation in connection with the repayment of debt owed to Mr. Dalla-Longa in the aggregate amount of $225,000, representing a price of $0.00786051 per Purchased Share (the "Share Acquisition"). All of the Purchased Shares were acquired through Dalco Capital Corp., an entity wholly-owned by Mr. Dalla-Longa. The Purchased Shares represent 23.72% of the current number of issued and outstanding common shares of the Corporation. Mr. Dalla-Longa now beneficially owns or controls, directly or indirectly, an aggregate of 29,543,208 common shares of the Corporation, representing 24.48% of the Corporation's issued and outstanding common shares.
Mr. Dalla-Longa acquired the Purchased Shares for private investment purposes and may, in the future and subject to applicable law, increase or decrease his beneficial ownership or control over securities of the Corporation depending upon a number of factors, including but not limited to general market and economic conditions and other available investment opportunities.
The Share Acquisition was conducted in reliance on the "private agreement exemption" in section 4.2 of National Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104") and as a result was exempt from the take-over bid requirements in Part 2 of NI 62-104. The Purchased Shares acquired by Mr. Dalla-Longa were purchased from not more than five sellers and at a price less than 115% of the market price of the Purchased Shares, in each case as calculated in accordance with NI 62-104.
An early warning report reflecting the above noted is now available under the Corporation's sedar+ profile at . For further information, or to request a copy of the early warning report, please contact the following:
Danny Dalla-Longa
Telephone: 1-403-871-0034
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
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