TORONTO, ONTARIO — (Marketwired) — 07/23/13 — Benbrick Holdings Inc. (“Benbrick”) announced today that on July 19, 2013 it sold 1,370,200 common shares (the “Common Shares”) in the capital of Brick Brewing Co. Limited (the “Company) on the Toronto Stock Exchange at a price of Cdn.$1.5004 per share and it exercised 2,856,963 common share purchase warrants (each, a “Warrant”) at $0.71 per underlying Common Share for aggregate consideration to the Company of $2,028,444.28. On July 22, 2013 Benbrick also exercised 788,870 Warrants to acquire 788,870 Common Shares of the Company at $0.71 per share for additional aggregate consideration to the Company of $560,097. All of the Warrants exercised by Benbrick were due to expire on October 31, 2013.
The 1,370,200 Common Shares sold represent approximately 3.99% of the now outstanding Common Shares of the Company and the 3,645,833 Common Shares issued on exercise of the Warrants represent approximately 10.6% of the now outstanding Common Shares of the Company.
Prior to such transactions, Benbrick beneficially owned or exercised control or direction over 7,688,803 Common Shares and 3,645,833 Warrants representing, assuming the full exercise of the Warrants, 32.97% of the issued and outstanding Common Shares. Benbrick now beneficially owns or exercises control or direction over 9,964,436 Common Shares (and no Warrants) representing 28.98% of the issued and outstanding Common Shares.
Benbrick sold the Common Shares to make cash available for the exercise of the Warrants. Benbrick exercised the Warrants and continues to hold its Common Shares of the Company for investment purposes. Depending on market conditions and other factors, Benbrick may from time to time acquire additional securities of the Company or dispose of additional securities of the Company in the open market, by private agreement or otherwise.
For further information or to obtain a copy of the report to be filed with the Ontario Securities Commission in respect of such transaction, please contact:
Contacts:
Benbrick Holdings Inc.
Paul Laufert
226-476-1372