DALMAC ENERGY INC. TSX Venture: "DAL"
EDMONTON, May 3, 2016 /CNW/ - John Babic, President and CEO of Dalmac Energy
Inc. (the "Company" or "Dalmac") (TSX Venture
"DAL") wishes to announce that on May 3,
2016, Mr. John Babic the
President and Chief Executive Officer of Dalmac ("Mr.
Babic"), acquired 2,500,000 Units of the Company (the
"Units") in the non-brokered private placement of the
Company that closed on the date hereof, at a price of $0.10 per Unit. Each Unit entitled the holder
thereof to acquire, at no additional cost, one common share of
Dalmac (a "Common Share") and one share purchase warrant of
Dalmac (the "Warrants"). Each Warrant entitles the holder
thereof to acquire one Common Share at a price of $0.15 per Common Share for a period of eighteen
months from the date hereof.
As a result of the acquisition, Mr. Babic now has ownership and
control over an aggregate of 9,318,167 Common Shares, 450,000
options to acquire Common Shares ("Options") and 2,500,000
Warrants, representing approximately 32.93% (basic) of the issued
and outstanding Common Shares and 35.43% (fully diluted) of the
issued and outstanding Common Shares, which is inclusive of Common
Shares that would be issued upon exercise of all Options and
Warrants held by Mr. Babic.
The Common Shares acquired by Mr. Babic, were purchased to
increase Mr. Babic's shareholdings for investment purposes.
Mr. Babic may, depending on market and other conditions, increase
or decrease his beneficial ownership of or control or direction
over the securities of the Company in the open market, subject to a
number of factors, including general market conditions and other
available investment and business opportunities. Mr. Babic
purchased the Units relying on the exemption in section 2.5 of
National Instrument 45-106 – Prospectus Exemptions, as the
Units were purchased pursuant to a private placement completed by
the Company.
This news release is being issued pursuant to Part 3 of National
Instrument 62-103 - The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues of the Canadian
Securities Administrators. A copy of the report filed by Mr.
Babic in connection with the acquisition of the Common Shares is
available on the Company's SEDAR profile, and it can also be
obtained directly from John Babic by
contacting the Company at the number shown below.
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.
SOURCE Dalmac Energy Inc.