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Mr. Eric Krafft, a director of the Company, has subscribed for and acquired 5,468,000 Common Shares under the Private Placement. Prior to the Private Placement, Mr. Krafft beneficially owned and controlled 101,616,577 Common Shares and 32,268,173 warrants of the Company. Mr. Krafft is a Control Person (as defined by the policies of the Exchange), beneficially holding 107,084,574 common shares and 37,736,173 warrants of the Company, representing approximately 40.52% of the issued and outstanding Common Shares on a non-diluted basis, and 41.73% on a partially diluted basis, assuming the exercise of warrants held by Mr. Krafft only. The Company obtained disinterested shareholder approval at the Annual General Meeting held on July 24, 2020 for Mr. Krafft to become a Control Person of the Company.
