|By Marketwired .||
|September 4, 2014 12:54 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/04/14 -- San Antonio Ventures Inc. ("San Antonio", or the "Company") (TSX VENTURE: SAN) is pleased to announce that it has closed its previously announced reverse take-over (the "RTO") with R2 Energy Ltd. ("R2") pursuant to which the shareholders of R2 were issued two common shares of San Antonio for every one R2 common share held immediately prior to the completion of the RTO and all convertible securities of R2 were exchanged for convertible securities of San Antonio on the same basis.
Pursuant to the terms thereof, each of the 19,166,666 initial subscription receipts issued by R2 on July 31, 2014 in its previously announced $5.75 million private placement have been converted into pre-consolidated 19,166,666 units of San Antonio and 19,166,666 subscription receipts of San Antonio (each, a "Subscription Receipt"). The Company has received $2,875,000 plus interest from escrow. Each San Antonio unit consists of one common share of San Antonio and one pre-consolidated common share purchase warrant, entitling the holder thereof to purchase one additional San Antonio common share at a price of $0.25 until July 31, 2019.
The Company's currently issued and outstanding 75,140,272 common shares (after giving effect to the RTO) will resume trading on the TSX Venture Exchange ("TSXV") on September 5, 2014. The Company's 19,166,666 pre-consolidated warrants will begin trading on the TSXV under the symbol "SAN.WT" at this time as well.
In connection with the RTO, each of Kenneth Phillippe, Stephen Kenwood and Thomas Dyakowski resigned as directors of the Company. Messrs. Craig Steinke, Ian W. Telfer and Gordon Keep were appointed as directors of the Company and Chris Dyakowski remains as a director. In addition, Craig Steinke was appointed Chief Executive Officer of the Company and Jeremy Crichton was appointed Chief Financial Officer of the Company.
The annual and special meeting of shareholders (the "Meeting") of the Company is scheduled to be held on September 12, 2014. At the Meeting, shareholders will be asked to approve, among other things: (i) a change in the Company's name to "Renaissance Oil Corp."; and (ii) a consolidation of the Company's issued and outstanding common shares on a two for one basis.
After the Meeting, the Subscription Receipts will convert into pre-consolidated San Antonio units and the Company will receive the balance of $2,875,000 plus interest from escrow. Then, the San Antonio common shares will be consolidated on a two for one basis and the name and symbol will change. After giving effect to the consolidation, the Company will have 47,153,469 common shares, 19,166,666 warrants and 3,901,000 stock options issued and outstanding. Each post-consolidated warrant entitles the holder thereof to acquire one common share of Renaissance Oil Corp. at a price of $0.50 until July 31, 2019.
The Company has been advised that Craig Steinke currently holds on a pre-consolidated basis 10,292,808 common shares, representing 13.70% of the issued and outstanding 75,140,272 common shares of the Company, 1,600,000 stock options, representing 20.51% of the outstanding options, 166,666 warrants, representing 0.87% of the outstanding warrants and 166,666 subscription receipts, representing 0.87% of the outstanding subscription receipts. Mr. Steinke would hold 12,392,806 common shares, representing 16.04% of the then-issued and outstanding shares of the Company on a partially diluted basis, assuming exercise of all convertible securities held by Mr. Steinke. Mr. Steinke has ownership and control over these securities.
The Company has been advised that Ian Telfer currently holds on a pre-consolidated basis 13,520,456 common shares, representing 17.99% of the issued and outstanding 75,140,272 common shares of the Company, 1,000,000 stock options, representing 12.82% of the outstanding options, 1,520,256 warrants, representing 7.93% of the outstanding warrants, 1,520,256 subscription receipts, representing 7.93% of the outstanding subscription receipts, and 1,200,000 common shares of the Company which are subject to a private call option held by Mr. Telfer. Mr. Telfer would hold 20,281,224 common shares, representing 24.76% of the then-issued and outstanding shares of the Company on a partially diluted basis, assuming exercise of all convertible securities held by Mr. Telfer. Mr. Telfer has ownership and control over these securities.
The Company has been advised that Casey Capital Strategies, LLC ("CCS"), together with its joint actors, has ownership and control of, on a pre-consolidated basis, 8,000,000 common shares, representing 10.65% of the issued and outstanding 75,140,272 common shares of the Company, 4,000,000 warrants, representing 20.87% of the outstanding warrants, and 4,000,000 subscription receipts, representing 20.87% of the outstanding subscription receipts. CCS, together with its joint actors, would have ownership and control of 20,000,000 common shares, representing 22.95% of the then-issued and outstanding shares of the Company on a partially diluted basis, assuming exercise of all convertible securities held.
A copy of the early warning reports relating to the above holdings will be available under the Company's profile on SEDAR at www.sedar.com.
Renaissance is in the business of identifying, acquiring and developing a diversified shale and mature field portfolio in Mexico, Spain and other strategic countries, with its present principal focus being the investigation of shale and mature field prospects in Mexico, pursuant to its memorandum of understanding with Halliburton Energy Services, Inc. In Spain, Renaissance was the successful bidder on various land positions in certain sedimentary basins. The awarding of permits are now at varying stages of processing. Renaissance conducts its Spanish business, through its 40%-owned Spanish subsidiary, Montero Energy Corporation, S.L. The Company also plans to continue its exploration and development program at its 100% owned Fame Gold Property in south-central British Columbia.
SAN ANTONIO VENTURES INC.
Craig Steinke, Chief Executive Officer
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to the commencement of trading of the common shares and warrants of the Company and the composition of the Company's board of directors following the Meeting. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, but are not limited to, the Company's inability to secure shareholder approval required to approve the matters to come before shareholders at the Meeting.
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.
Chief Executive Officer
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 19, 2017 09:00 PM EST Reads: 4,416
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Jan. 19, 2017 08:45 PM EST Reads: 5,261
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
Jan. 19, 2017 07:30 PM EST Reads: 4,231
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Jan. 19, 2017 06:30 PM EST Reads: 6,317
Providing secure, mobile access to sensitive data sets is a critical element in realizing the full potential of cloud computing. However, large data caches remain inaccessible to edge devices for reasons of security, size, format or limited viewing capabilities. Medical imaging, computer aided design and seismic interpretation are just a few examples of industries facing this challenge. Rather than fighting for incremental gains by pulling these datasets to edge devices, we need to embrace the i...
Jan. 19, 2017 05:30 PM EST Reads: 3,631
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Jan. 19, 2017 05:15 PM EST Reads: 3,107
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Jan. 19, 2017 05:15 PM EST Reads: 1,317
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 19, 2017 04:45 PM EST Reads: 3,757
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Jan. 19, 2017 04:45 PM EST Reads: 3,478
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 19, 2017 04:15 PM EST Reads: 5,408
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Jan. 19, 2017 04:00 PM EST Reads: 5,435
SYS-CON Events announced today that Catchpoint, a leading digital experience intelligence company, has been named “Silver Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Catchpoint Systems is a leading Digital Performance Analytics company that provides unparalleled insight into your customer-critical services to help you consistently deliver an amazing customer experience. Designed for digital business, C...
Jan. 19, 2017 03:45 PM EST Reads: 1,796
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
Jan. 19, 2017 03:30 PM EST Reads: 1,041
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Jan. 19, 2017 02:15 PM EST Reads: 1,063
@ThingsExpo has been named the ‘Top WebRTC Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @ThingsExpo ranked as the number one ‘WebRTC Influencer' followed by @DevOpsSummit at 55th.
Jan. 19, 2017 02:00 PM EST Reads: 4,788