UGE International Ltd. Announces Early Warning Reports
September 18, 2015 – New York, NY – UGE International Ltd. (the “Company” or “UGE”) (www.ugei.com) (TSX-V: UG) OTCQB: UGEIF), is announcing, pursuant to National Instrument 62-103 – The Early Warning System and Related Take Over Bid and Insider Reporting Issues, the exercise of a total of 6,800,000 special warrants (the “Special Warrants”) by insiders Nicolas Blitterswyk, Yun Liu and Xiangrong Xie (the “Insiders”).
The Insiders acquired the Special Warrants in connection with UGE’s Qualifying Transaction (as such term is defined in the policies of the TSX Venture Exchange) on July 28, 2014. Each Special Warrant is exercisable for one common share for no additional consideration, provided certain pre-conditions are met.
Nicolas Blitterswyk (New York, NY) has exercised a total of 880,000 Special Warrants, bringing the total amount of shares owned and controlled by him to 1,448,641, or 7.83% of the total issued and outstanding common shares of UGE. Yun Liu (New York, NY) has also exercised a total of 880,000 Special Warrants, bringing the total amount of shares owned and controlled by her to 1,484,456 or 8.02% of the total issued and outstanding common shares of UGE. Xiangrong Xie (Beijing, China) has exercised a total of 5,040,000 Special Warrants, bringing the total amount of shares owned and controlled by her to 5,591,936, or 30.23% of the total issued and outstanding common shares of UGE.
The Special Warrants were acquired by the Insiders over the facilities of the TSX Venture Exchange. The Insiders may from time to time acquire additional securities of UGE, dispose of some or all of the existing or additional securities they hold or will hold, or may continue to hold their current position.
The Insiders have each filed an early warning report as required under National Instrument 62-13, which contains certain changes regarding the total class and percentage of securities from the last early warning reports filed by the Insiders on August 1st, 2014, which contain additional information with respect to the foregoing matters, and are available on the Company’s SEDAR profile at www.sedar.com.