TORONTO, July 9, 2013 (GLOBE NEWSWIRE) -- This news release is disseminated pursuant to National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the holdings Kreative Ventures Limited ("Kreative"). Kreative and its wholly owned subsidiary, Providential Pictures Inc., ("Providential") have acquired beneficial ownership or control over 600,000 units ("Units") of Augustine Ventures Inc. (the "Company") (CNSX:WAW) through a private placement on July 4, 2013 (the "Offering"). Each Unit issued under the Offering consists of one common share (a "Share") and one common share purchase warrant (a "Warrant"), which Warrant will allow the holder to acquire one additional Share of the Company (a "Warrant Share") for a period of two years at an exercise price of $0.10 per Warrant Share.
Kreative acquired ownership over 400,000 Units and Providential acquired ownership over 200,000 Units. Assuming exercise of the Warrants comprised within the Units, the aggregate number Shares over which: (i) Kreative acquired ownership amounts to 1.91% and (ii) Providential acquired ownership amounts to 0.96% of the issued and outstanding Shares of the Company, calculated on a partially diluted basis. Collectively, assuming exercise of the Warrants comprised within the Units, Kreative and Providential (collectively the "Acquiror") acquired ownership or control over 2.87% of the issued and outstanding Shares of the Company, calculated on a partially diluted basis.
The Acquiror previously owned 550,000 Shares and 550,000 Warrants. Following closing of the Offering, the Acquiror owns 1,150,000 shares and 1,150,000 Warrants, which represent 5.36% of the issued and outstanding Shares of the Company, calculated on a partially diluted basis.
The Acquiror and any persons or companies that may be considered to be joint actors with the Acquiror collectively own or control 6,190,000 Shares and 5,952,625 Warrants of the Company, which, if the Warrants were exercised, would represent an aggregate of 25.44%, of the total issued and outstanding Shares of the Company, calculated on a partially diluted basis.
The Acquiror and the joint actors have acquired the securities in the Company for investment purposes and from time to time the Acquiror and any of the joint actors may: (i) acquire additional securities of the Company, (ii) dispose of some or all of the existing or additional securities they hold or may hold or (iii) they may continue to hold their current position.
The issuance of this press release is not an admission that an entity named herein owns or controls any securities described herein or is a joint actor with any other person or company named in the early warning report referred to in this press release.
To obtain a copy of the Early Warning Report filed in connection with this matter, please contact William F. White at WFWhite@ibkcapital.com (ph: (416) 360-4517). A copy of this report will be filed on Augustine's profile on SEDAR at www.sedar.com.
CONTACT: Mr. William F. White Secretary Treasurer of Kreative Ventures Limited Telephone: (416) 360-4517 Email: WFWhite@ibkcapital.comSource:Kreative Ventures Limited