MONTREAL, Feb. 05, 2018 (GLOBE NEWSWIRE) -- David Gilmour. (the “Acquiror”) today announced that on January 31, 2018 he has disposed privately of 15,000,000 common shares (the “Common Shares”) of Earth Alive Technologies Inc. (the “Issuer”) for an aggregate consideration of $1.5M (the “Transaction”). The Issuer head office is located at 9641, Clément Street, Lasalle, Québec H8R 4B4.
Before the Transaction, the Acquiror had control and direct ownership over 22,988,071 Common Shares representing approximately 20.77% of all of the issued and outstanding Common Shares. Following the Transaction the Acquiror has control and direct ownership over over 7,988,071 Common Shares representing approximately 7.2% of all of the issued and outstanding Common Shares. The aggregate consideration paid for the 15,000,000 Common Shares is $1.5M or $0.10 per Common Share.
The Common Shares were disposed by the Acquiror as part of an agreement whereby the Acquiror agreed to discontinue his legal proceedings against the Issuer, three of its directors and an officer.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Gilmour
24 Somerville
Montreal, Québec H3Z 1J2
tel.: 438 333-1680