TORONTO--(BUSINESS WIRE)--Apollo Beauty Inc. (“ABI”), 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 purchase of 778,098 Class B shares of the Corporation from an existing shareholder of the Corporation on April 15, 2020 (the “Transaction”).
While ABI currently has no other plans or intentions with respect to the Acasta securities currently held by ABI, ABI may develop such plans or intentions in the future and, at such time, may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold securities of Acasta.
Immediately before the acquisition of 778,098 Class B shares pursuant to the Transaction, ABI held or exercised control and direction over 14,874,832 Class B shares of the Corporation, representing 20.1% of the issued and outstanding common shares on a non-diluted basis.
Immediately following the acquisition of the 778,098 Class B shares pursuant to the Transaction, ABI held or exercised control and direction over 15,652,930 Class B shares of the Corporation, representing 21.2% of the issued and outstanding common shares on a non-diluted basis.
Richard Wachsberg and ABI, 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 Charles Wachsberg) which completed a concurrent transaction with the same vendor.
For further information and to obtain a copy of the Early Warning Report filed by ABI, please see Acasta’s profile on the SEDAR website (www.sedar.com).