VANCOUVER, March 6, 2018 /CNW/ - On February 28, 2018, through a reverse triangular
merger (the "Merger"), involving Nubeva Technologies Ltd.
(the "Issuer" formerly known as Sherpa Holdings Corp.),
Nubeva, Inc. and Sherpa USA Ltd.
(a wholly-owned subsidiary of the Issuer), Mr. Randy Chou, the president and Chief Executive
Officer of the Issuer acquired ownership and control of 13,000,000
Class A Restricted Voting Shares of the Issuer ("Class A
Restricted Voting Shares"), representing 100% of the issued and
outstanding Class A Restricted Voting Shares of the Issuer, and
9,993,548 common shares of the Issuer ("Common Shares"),
representing 25.81% of the 38,715,185 issued and outstanding Common
Shares of the Issuer.
The Class A Restricted Voting Shares are convertible into Common
Shares. In the event that Mr. Chou converted the Class A Restricted
Voting Shares he currently holds, then Mr. Chou would hold an
aggregate of 22,993,548 Common Shares of the Issuer, representing
44.46% of the issued and outstanding Common Shares.
The Merger formed part of the qualifying transaction of the
Issuer under Policy 2.4 of the TSX Venture Exchange Corporate
Finance Manual, all as set out in the filing statement of the
Issuer dated February 26, 2015 (the
"Filing Statement") and filed on SEDAR on February 27, 2018.
The Class A Restricted Voting Shares and the Common Shares are
held by Mr. Chou for investment purposes. Depending on market and
other conditions, Mr. Chou may, directly or indirectly, acquire
ownership or control over additional shares of the Issuer, through
market transactions, private agreements or otherwise, in accordance
with applicable securities legislation. Depending on market and
other conditions (and subject to any escrow and/or lock-up
agreements), Mr. Chou may sell any of his shares of the Issuer.
This press release is issued pursuant to National Instrument
62-103 - The Early Warning System and Related Take-Over Bid and
Insider Reporting Issues, which requires a report to be filed
with regulatory authority in each of the jurisdictions in which the
Issuer is a reporting issuer containing additional information with
respect to the foregoing matters (the "Early Warning
Report"). A copy of the Early Warning Report will appear
at www.sedar.com under the Issuer's issuer profile on the System
for Electronic Document Analysis and Retrieval.
The address of Mr. Chou is:
c/o Nubeva Technologies Ltd.
75 E Santa Clara Street,
Floor 6, San Jose, California USA
95113
SOURCE Randy Chou