CANADA: Clearly Canadian presidents ups stake
The president of Clearly Canadian Beverage Corp. has upped his stake in the drinks company. Douglas Mason has acquired another 215,688 common shares in Clearly Canadian.
As a result of this acquisition, Mason currently owns a total of 1,305,734 common shares of the company, share purchase warrants exercisable into 517,500 common shares of the corporation, incentive stock options exercisable into 339,659 common shares of the corporation and convertible debentures, convertible into 362,500 common shares of the corporation.
Upon the conversion of the convertible debentures in their entirety and upon the exercise of the share purchase warrants and stock options in their entirety, Mason would hold 2,525,393 common shares of the corporation, representing approximately 25.9% of the issued and outstanding share capital of Clearly Canadian, assuming the conversion of all debentures and exercise of all warrants and options Mason holds. The securities of the company owned by Mason are held for investment purposes. Further securities of the company may be acquired by Mason in the market or privately from time to time.
Earlier this year, Mason was banned from serving as a director or officer of any other issuer for a period of 12 months, other than for Clearly Canadian and for Columbia Yukon Explorations, Inc., from trading, directly or indirectly, in securities for a period of 12 months, other than trading which takes place through accounts held at a single registered dealer acceptable to the commission, and from engaging in investor relations activities for a period of 12 months, except for investor relations activities with Clearly Canadian and Columbia Yukon.
In October 2000, the British Columbia Securities Commission issued a Notice of hearing against Mason, relating to his connection with a trust established and administered under the laws of the Island of Jersey.
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