TORONTO--(BUSINESS WIRE)--Apollo Beauty Inc., a company controlled by Richard Wachsberg, the co-Chief Executive Officer of Acasta Enterprises Inc. (“Acasta” or the “Corporation”) has filed an Early Warning Report in accordance with National Instrument 62-103 - The Early Warning System and Related Take Over Bids and Insider Reporting Issues, in connection with its acquisition of 2,251,245 Class B shares of Acasta pursuant to a private placement from treasury completed on June 7, 2019, as well as the purchase of an additional 464,636 Class B shares of the Corporation on June 12, 2019 (collectively, the “Transactions”).
Immediately before the acquisition of a total of 2,715,881 Class B shares pursuant to the Transactions, Apollo Beauty Inc. held or exercised control and direction over 11,694,198 Class B shares of the Corporation, representing 17.48% of the issued and outstanding common shares on a non-diluted basis.
Immediately following the acquisition of the 2,715,881 Class B shares pursuant to the Transactions, Apollo Beauty Inc. held or exercised control and direction over 14,410,079 Class B shares of the Corporation, representing 20.06% of the issued and outstanding common shares on a non-diluted basis.
Richard Wachsberg and Apollo Beauty Inc., may be considered to be joint actors with Charles Wachsberg (the Co-Chief Executive Officer of Acasta) and Apollo Health Inc. (a company controlled by him) which completed an identical transaction.
For further information and to obtain a copy of the Early Warning Report filed by Apollo Beauty Inc., please see Acasta’s profile on the SEDAR website (www.sedar.com).