St. Albert, Alberta--(Newsfile Corp. - December 3, 2020) - Leonard Jaroszuk announces that he has acquired 2,800,000 common shares (the "Purchased Shares") of Samoth Oilfield Inc. (the "Company") pursuant to a private agreement at a price of $0.05 per share for an aggregate purchase price of $140,000 (the "Acquisition"). Mr. Jaroszuk acquired the Purchased Shares on December 3, 2020. The Purchased Shares represent 8.49% of the current number of outstanding common shares of the Company.
Prior to the Acquisition, Mr. Jaroszuk held 7,350,888 common shares representing 22.30% of the outstanding common shares of the Company. In addition, Mr. Jaroszuk held 1,476,722 stock options and, assuming the exercise of such stock options, Mr. Jaroszuk would have held 25.63% of the outstanding common shares of the Company.
After giving effect to the Acquisition, Mr. Jaroszuk held 10,150,888 common shares representing 28.38% of the outstanding common shares of the Company. Assuming the exercise of the stock options, Mr. Jaroszuk would hold 31.22% of the outstanding common shares of the Company.
Mr. Jaroszuk acquired the Purchased Shares for private investment purposes and may, in the future and subject to applicable law, acquire or dispose of common shares or other securities of the Company depending upon a number of factors, including but not limited to general market and economic conditions and other available investment opportunities.
The Acquisition was made in reliance on the "private agreement exemption" contained in section 4.2 of NI 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104") on the basis that (i) the purchase of the common shares was not made from more than five persons, (ii) the offer to purchase was not made generally to all holders of common shares, and (iii) the value of the consideration paid for the common shares pursuant to the Acquisition was not greater than 115% of the market price of common shares on the TSX Venture Exchange as determined in accordance with NI 62-104.
A copy of the early warning report is available under the Company's SEDAR profile at . For further information or to request a copy of the early warning report, please contact Leonard Jaroszuk at 780-418-4400.
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