This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
CALGARY, Alberta, May 16, 2018 (GLOBE NEWSWIRE) — An option (“Option“) to purchase 253,333 common shares (“Common Shares“) of Tailwind Capital Corporation (the “Issuer” or “Tailwind“) has been granted to Paul Cheung. The Option entitles Mr. Cheung to acquire up to 253,333 Common Shares at an exercise price of $0.10 per share and expires on May 15, 2028.
Prior to the acquisition, Mr. Cheung owned 1,900,000 Common Shares. Mr. Cheung now directly owns 1,900,000 Common Shares, representing 23.75% of the issued and outstanding Common Shares and the Option to acquire 253,333 Common Shares. Assuming the exercise of the entire Option held by Mr. Cheung, he will own 2,153,333 Common Shares representing 26.09% of the issued and outstanding Common Shares.
The Option was granted to Mr. Cheung as part of the compensation program of the Corporation.
Tailwind is located at 900, 903 – 8th Avenue S.W., Calgary, Alberta T2P 0P7.
A report respecting this acquisition will be filed with the applicable securities commissions using the System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Issuer’s profile at www.sedar.com.
For further information or to obtain a copy of the early warning report, please contact Kevin R. Baker, Q.C., President and Chief Executive Officer of the Issuer at (403) 476-7010 or via email firstname.lastname@example.org.
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