Burnaby, British Columbia–(Newsfile Corp. – September 7, 2022) – In connection with the completion by BuildDirect.com Technologies Inc. (formerly, VLCTY Capital Inc.) (the “Company“) of a private placement offering of common shares of the Company (the “Private Placement“) announced on August 30, 2022, Beedie Investments Limited (“Beedie“), through a wholly-owned subsidiary, acquired beneficial ownership over an aggregate of 1,521,740 common shares of the Company (the “Common Shares“) at a price of $0.46 per Common Share.
Immediately prior to the Private Placement, the Beedie beneficially owned 2,922,243 Common Shares and 515,855 common share purchase warrants of the Company (the “Warrants“). Following completion of the Private Placement and assuming the exercise in full of the Warrants, the Acquiror, directly or indirectly, would beneficially own or control a total of 4,959,838 Common Shares, representing approximately 13.9% of the issued and outstanding Common Shares on a partially diluted basis.
All of the securities held by Beedie in the Company, including the Common Shares and the Warrants, are being held for investment purposes. Beedie may in the future take such actions in respect of its Company securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional Common Shares through open market purchases or privately negotiated transactions, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Beedie may continue to hold its current positions.
A copy of the early warning report relating to the Private Placement will be available under the Company’s profile on SEDAR at www.sedar.com, and may also be obtained by contacting Beedie Investments Limited at 604-435-3321. Beedie’s head office is located at Suite 1570 – 1111 West Georgia St., Vancouver, British Columbia, V6E 4M3.
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 news release.
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