Canada Markets open in 4 hrs 25 mins
  • S&P/TSX

    20,633.27
    -128.76 (-0.62%)
     
  • S&P 500

    4,538.43
    -38.67 (-0.84%)
     
  • DOW

    34,580.08
    -59.71 (-0.17%)
     
  • CAD/USD

    0.7786
    -0.0022 (-0.2826%)
     
  • CRUDE OIL

    66.22
    -0.28 (-0.42%)
     
  • BTC-CAD

    60,957.15
    -2,078.03 (-3.30%)
     
  • CMC Crypto 200

    1,367.14
    -74.62 (-5.18%)
     
  • GOLD FUTURES

    1,782.10
    +21.40 (+1.22%)
     
  • RUSSELL 2000

    2,159.31
    -47.02 (-2.13%)
     
  • 10-Yr Bond

    1.3430
    -0.1050 (-7.25%)
     
  • NASDAQ futures

    15,687.50
    -301.00 (-1.88%)
     
  • VOLATILITY

    30.67
    +2.72 (+9.73%)
     
  • FTSE

    7,122.32
    -6.89 (-0.10%)
     
  • NIKKEI 225

    28,029.57
    +276.20 (+1.00%)
     
  • CAD/EUR

    0.6878
    -0.0027 (-0.39%)
     

The K2 Principal Fund L.P. Acquires Warrants in Redline Communications

·2 min read

TORONTO, Nov. 25, 2021 /CNW/ - The K2 Principal Fund L.P. ("K2") announces it is has acquired warrants of Redline Communications. ("RDL"). K2 has acquired a total of 329,500 warrants, if exercised K2 would hold 11.0% of the common shares outstanding. The warrants were granted for K2's participation of $659,000 in the $7,000,0000 loan facility which closed on November 22. The warrants were granted for no cost.

Prior to the closing of the loan facility K2 owned a total of 1,605,200 common shares representing 9.3% of the shares outstanding. Through K2's $659,000 participation of the $7,000,000 loan facility, K2 was granted a total of 329,500 warrants. Each Warrant will be exercisable for one common share of the Company for a period of three years from the loan facility closing, at exercise prices of: (i) CDN$0.65 per common share with respect to one-third of the Warrants; (ii) CDN$0.75 per common share with respect to one-third of the Warrants, and (iii) CDN$0.85 per common share with respect to one-third of the Warrants. If the warrants were fully exercised, K2 would own 11.0% of RDL on a partially diluted basis.

Redline Communication's head office is located at 302 Town Centre Blvd. 4th Floor. Markham, Ontario L3R 0E8. K2's office is located at 2 Bloor Street West, Suite 801, Toronto, Ontario, M4W 3E2. K2 & Associates Investment Managements Inc. ("K2 & Associates") is the fund manager to The K2 Principal Fund L.P. It was formed under the laws of the Province of Ontario and is engaged in the business of investing in securities.

SOURCE The K2 Principal Fund L.P.

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/November2021/25/c6955.html

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting