Chinook Financial Ltd. Press Release under the Early Warning Systemadmin
Chinook Financial Ltd. Press Release under the Early Warning System
Calgary, Alberta CANADA, November 29, 2013 /FSC/ – QWEST DIVERSIFIED CAPITAL CORPORATION (RIA – TSX Venture), This press release is issued by Chinook Financial Ltd. (“Chinook”) as required under National Instrument 62-103 The Early Warning System as it relates to its holdings in Qwest Diversified Capital Corporation (“QDCC”).
Chinook announces that on November 29, 2013, it acquired ownership of, through an issuance from treasury, an aggregate of 240 common shares of Qwest Diversified Holdings Corp. (“QDHC”) for $1.00 per share, representing approximately 70% of the issued and outstanding shares of QDHC (the “Transaction”). QDHC holds 100% of the voting securities of QDCC (the “Common Shares”). Consequently, as a result of the Transaction, Chinook exercises control and direction over 100% of the Common Shares of QDCC through its ownership of 70% of the issued and outstanding shares of QDHC.
Chinook acquired the 240 common shares of QDHC pursuant to the “private issuer” exemption in National Instrument 45-106 Prospectus and Registration Exemptions. Chinook acquired the 240 common shares for investment purposes and Chinook may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over the Common Shares of QDCC or other securities of QDCC, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.
Chinook will be filing a report under National Instrument 62-103 – The Early Warning System of the Canadian Securities Administrators in connection with the acquisition of exercise and control over the Common Shares. For further information and to obtain a copy of such report please contact Chinook at Telephone No.: (403) 215-9253.
Chinook Financial Ltd.
200, 816 – 7th Avenue SW
Calgary, Alberta T2P 1A1
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Source: Ria Resources Corp. (TSX:V – RIA)
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Posted: November 29th, 2013 under FSCWIRE.