Monday, 17 December 2018 05:30 PM
TORONTO, ON / ACCESSWIRE / December 17, 2018 / (AirIQ Inc. TSXV:IQ) - Mosaic Capital Partners LP ("Mosaic") announced today that it has purchased 700,000 common shares (the "Common Shares") from treasury of AirIQ Inc. ("AirIQ"), representing approximately 2.40% of the total issued and outstanding common shares of AirIQ immediately prior to the transaction. As a result of this transaction, Mosaic holds, as at December 17, 2018, an aggregate of 5,949,999 common shares of AirIQ, including the Common Shares, representing approximately 19.95% of all of the issued and outstanding common shares of AirIQ as at December 17, 2018.
The Common Shares were purchased upon the full exercise of a warrant dated December 17, 2013 (hereinafter the "Warrant") previously issued to Mosaic Capital Partners LP for the purchase of up to 700,000 common shares of AirIQ for an exercise price of $0.05 CAD per Common Share. Mosaic paid AirIQ $35,000 CAD for the Common Shares.
The Warrant was scheduled to expire pursuant to its terms at 5:00 PM Eastern time on December 17, 2018.
The Common Shares were acquired by Mosaic for investment purposes. Depending on market conditions and other factors, Mosaic may from time to time acquire additional securities of AirIQ or dispose of securities of AirIQ in the open market, by private agreement or otherwise.
To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the acquisition of the Common Shares, please see AirIQ's profile on the SEDAR website www.sedar.com.
About Mosaic
Mosaic Capital Partners LP is a private equity firm focused on providing capital, strategic advice and access to an extensive network to add value to small and medium sized enterprises.
For further information:
Andrea Pasoff, Chief Financial Officer, Mosaic Capital Partners LP, 6300 Northam Drive, Mississauga, Ontario, L4V 1H7, (416) 367-2888, [email protected], www.mosaicvp.com
Neither 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.
SOURCE: AirIQ Inc.