/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Feb. 9, 2021 /CNW/ - Travis Chen, (the "Investor") insider of
Kadestone Capital Corp. (TSXV: KDSX) (the "Company" or
"Kadestone"), today reported that he acquired 500 common
shares (the "Shares") of the Company for aggregate
consideration of C$875 (the
"Acquisition"). The Shares represented approximately 0.001%
of the issued and outstanding common shares of the Company as of
February 5, 2021 (the "Common
Shares").
The Acquisition by the Investor was completed on the TSX Venture
Exchange pursuant to the "normal course purchase exemption" in
Section 4.1 of National Instrument 62-104 – Take-Over Bids and
Issuer Bids ("62-104"). The Investor is entitled to rely
on this exemption as: (a) the bid was for not more than 5% of the
outstanding Common Shares; (b) the aggregate number of Common
Shares acquired in reliance on this exemption by the Investor and
any person acting jointly or in concert with the Investor within
any period of 12 months, when aggregated with acquisitions
otherwise made by the Investor and any person acting jointly or in
concert with the Investor within the same 12-month period, other
than under a bid that is subject to Part 2 of 62-104, does not
exceed 5% of the Common Shares outstanding at the beginning of the
12-month period; (c) there is a published market for the Common
Shares; and (d) the value of the consideration paid for the Shares
was not in excess of the market price at the date of the
acquisition, as determined in accordance with Section 1.11 of
62-104, plus reasonable brokerage fees or commissions actually
paid. This Acquisition will be reported on the System for
Electronic Disclosure by Insiders (SEDI) and took place on February
5, 2021 at a price of C$1.75 per Share.
Prior to the Acquisition, the Investor beneficially owned
14,891,375 Common Shares, which represented approximately 32.016%
of the issued and outstanding Common Shares on February 4, 2021. Following the Acquisition, the
Investor owns and controls, directly or indirectly, 14,891,875
Common Shares, representing approximately 32.017% of the issued and
outstanding Common Shares as of February 5,
2021.
The Investor acquired the Shares for investment purposes. The
Investor may from time to time acquire additional securities,
dispose of some or all of the existing or additional securities or
may continue to hold the securities of the Company.
About Kadestone Capital Corp.
Kadestone was established to pursue the investment in,
development, acquisition, and management of residential and
commercial income producing properties within major urban centres
and high-growth, emerging markets in Canada. The Company
operates five complimentary business lines spanning building
materials procurement and supply, property development and
construction, construction finance, asset ownership, and property
management. These synergistic business lines have solidified
Kadestone's vision to become a market leading vertically integrated
property company. Additional information can be found
at www.kadestone.com.
ON BEHALF OF THE BOARD
(signed) "Brent Billey"
President, CEO and Director
Cautionary Statement Regarding Forward Looking-Statements
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. Certain information in this press
release, including, but not limited to, statements regarding the
Investor's future plans, may constitute forward looking information
(collectively, forward-looking statements), which can be identified
by the use of terms such as "may," "will," "should," "expect,"
"anticipate," "project," "estimate," "intend," "continue" or
"believe" (or the negatives) or other similar variations. Because
of various risks and uncertainties, including those referenced
below, actual events or results may differ materially from those
reflected or contemplated in such forward-looking statements. As a
result, you should not rely on such forward-looking statements.
Additional information identifying assumptions, risks and
uncertainties relating to Kadestone is contained in Kadestone's
filings with the Canadian securities regulators available at
www.sedar.com. These risks include those described in the
"Risk Factors" section of the Company's final prospectus
dated September 2,
2020 and in the Management's Discussion and Analysis for the
three and nine months ended September 30, 2020. The
forward-looking statements in this press release are applicable
only as of the date of this release or as of the date specified in
the relevant forward-looking statement.
SOURCE Kadestone Capital Corp.