|By Marketwired .||
|May 27, 2014 06:30 AM EDT||
WINNIPEG, MANITOBA -- (Marketwired) -- 05/27/14 -- Further to disclosure requirements of applicable securities laws, Mr. James Mellon of Viking House, Nelson Street, Douglas, Isle of Man, announces that he has acquired, indirectly through an investment company, control of an additional 1,450,000 common shares and 1,450,000 warrants (the "Acquisition") of Miraculins Inc.(TSX VENTURE:MOM) (the "Company"). The shares and warrants were acquired pursuant to a private placement offering of units (at a price of $0.10 per unit) announced by the Company on May 21, 2014 and closed on May 26, 2014. Each unit is comprised of one common share of the Company and one warrant. Each warrant entitles the holder to purchase one common share of the Company at a price of $0.15 per share for a period of 24 months from the date the warrant was issued.
Prior to the Acquisition, Mr. Mellon owned or exercised direction or control over 1,014,747 shares of the Company and held warrants and stock options to acquire an additional 266,667 shares, representing 7.76% of the issued and outstanding shares of the Company (or 9.60% after giving effect to the exercise of Mr. Mellon's warrants and stock options). After the Acquisition, Mr. Mellon owns or exercises direction or control over 2,464,747 shares of the Company and holds warrants and stock options to acquire an additional 1,716,667 shares, representing 15.72% of the issued and outstanding shares of the Company (or 24.03% after giving effect to the exercise of Mr. Mellon's warrants and stock options).
The Acquisition was for investment purposes and Mr. Mellon may, from time to time, acquire additional securities of the Company or dispose of some or all of the existing securities he controls.
This news release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report"). A copy of the Early Warning Report may be found on www.SEDAR.com under the Company's profile.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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