/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE
SERVICES/
CALGARY,
AB, Nov. 24, 2022 /CNW/ - On November 21, 2022, Mr. Beddoe disposed (the "Sale
Transaction") of 47,000 common shares ("Shares") in the capital of
SQI Diagnostics Inc. ("SQI" or the "issuer"). Since the date of the
last early report filed by Mr. Beddoe on February 10, 2021 (the "Prior Report") with
respect to his securities of the issuer, Mr. Beddoe has disposed of
an aggregate of 554,334 Shares by way of over the market
trades qualified through the filing of two Form 45-102F1s –
Notice of Intention to Distribute Securities under Section 2.8
of NI 45-102 Resale of Securities (the "Sales Notice") dated
February 9, 2021 and October 25, 2022 for aggregate consideration of
$215,061.08 or an average price of
approximately $0.39 per Share,
exercised 6,562,502 common share purchase warrants ("Warrants") of
the issuer and purchased 7,017,543 units comprised of one Warrant
and one Share pursuant to a private placement of the issuer that
closed on November 1, 2021.
As a result of the Sale Transaction, Mr. Beddoe beneficially
owned or exercised control or direction over 98,987,865 Shares,
35,678,512 Warrants and $440,000
principal amount of 10% secured debentures due January 30, 2025 and $1,350,000 principal amount of 8% secured
debentures due June 10, 2024 of SQI,
representing approximately 25.15% of the issued and outstanding
shares of SQI on a non-diluted basis and representing approximately
31.37% of the issued and outstanding shares of SQI, assuming the
full exercise of all Warrants that Mr. Beddoe beneficially owns or
exercises control or direction over.
At the time of the filing of the Prior Notice, Mr. Beddoe
beneficially owned or exercised control or direction over
84,708,154 Shares, 41,890,138 Warrants and $440,000 principal amount of 10% secured
debentures due January 30, 2025 of
the issuer, representing approximately 26.02% of the issued and
outstanding Shares on a non-diluted basis and representing
approximately 34.34% of the issued and outstanding Shares, assuming
the full exercise of all Warrants that Mr. Beddoe beneficially owns
or exercises control or direction over.
In addition to the transactions described herein and disclosed
in the Sales Notice, Mr. Beddoe may increase or decrease his
investment, directly or indirectly, in securities of SQI from time
to time, depending on market conditions or any other relevant
factors.
A copy of the report relating to this acquisition may be found
on SQI's profile at www.SEDAR.com or may be obtained from Mr.
Ryan Ogrodniczuk at 403-266-6203 or
at Mr. Beddoe's address c/o Hanover Investments Corporation Ltd.,
396-11th Avenue SW, Suite 1320, Calgary,
Alberta T2R 0C5. SQI's head office is located at 36 Meteor
Drive, Toronto, Ontario M9W
1A4.
SOURCE SQI Diagnostics Inc.
