|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
SYS-CON Events announced today that Agema Systems will exhibit at the 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Agema Systems is the leading provider of critical white-box rack solutions to data centers through the major integrators and value added distribution channels.
Oct. 4, 2015 08:30 PM EDT Reads: 618
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Bradley Holt, Developer Advocate at IBM Cloud Data Services, will demonstrate techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, ...
Oct. 4, 2015 08:00 PM EDT Reads: 352
While testing is often ignored when it comes to DevOps - it could be the most important aspect of achieving true DevOps success. Without rethinking automated testing from the ground-up, the entire DevOps productivity gain cannot be realized. Large tech companies build their own rapid test automation that runs in minutes across functional, performance, security and other tests. In his session at DevOps Summit, Kevin Surace, CEO of Appvance, will discuss how we learn from these real-world succe...
Oct. 4, 2015 08:00 PM EDT Reads: 379
SYS-CON Events announced today that Machkey International Company will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Machkey provides advanced connectivity solutions for just about everyone. Businesses or individuals, Machkey is dedicated to provide high-quality and cost-effective products to meet all your needs.
Oct. 4, 2015 07:45 PM EDT Reads: 266
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Oct. 4, 2015 07:15 PM EDT Reads: 207
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Oct. 4, 2015 07:00 PM EDT Reads: 336
“The Internet of Things transforms the way organizations leverage machine data and gain insights from it,” noted Splunk’s CTO Snehal Antani, as Splunk announced accelerated momentum in Industrial Data and the IoT. The trend is driven by Splunk’s continued investment in its products and partner ecosystem as well as the creativity of customers and the flexibility to deploy Splunk IoT solutions as software, cloud services or in a hybrid environment. Customers are using Splunk® solutions to collect ...
Oct. 4, 2015 06:45 PM EDT Reads: 557
SYS-CON Events announced today that JFrog, maker of Artifactory, the popular Binary Repository Manager, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based in California, Israel and France, founded by longtime field-experts, JFrog, creator of Artifactory and Bintray, has provided the market with the first Binary Repository solution and a software distribution social platform.
Oct. 4, 2015 06:30 PM EDT Reads: 480
SYS-CON Events announced today that Interface Masters Technologies, provider of leading network visibility and monitoring solutions, will exhibit at the 17th International CloudExpo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading provider of high speed networking solutions focused on Gigabit, 10 Gigabit, 40 Gigabit and 100 Gigabit Ethernet network access and connectivity products. For over 20 ye...
Oct. 4, 2015 06:30 PM EDT Reads: 628
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
Oct. 4, 2015 06:30 PM EDT Reads: 715
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
Oct. 4, 2015 06:00 PM EDT Reads: 316
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Oct. 4, 2015 06:00 PM EDT Reads: 724
Clutch is now a Docker Authorized Consulting Partner, having completed Docker's certification course on the "Docker Accelerator for CI Engagements." More info about Clutch's success implementing Docker can be found here. Docker is an open platform for developers and system administrators to build, ship and run distributed applications. With Docker, IT organizations shrink application delivery from months to minutes, frictionlessly move workloads between data centers and the cloud and achieve 2...
Oct. 4, 2015 05:45 PM EDT Reads: 380
SYS-CON Events announced today that Key Information Systems, Inc. (KeyInfo), a leading cloud and infrastructure provider offering integrated solutions to enterprises, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Key Information Systems is a leading regional systems integrator with world-class compute, storage and networking solutions and professional services for the most advanced softwa...
Oct. 4, 2015 05:15 PM EDT Reads: 280
As enterprises capture more and more data of all types – structured, semi-structured, and unstructured – data discovery requirements for business intelligence (BI), Big Data, and predictive analytics initiatives grow more complex. A company’s ability to become data-driven and compete on analytics depends on the speed with which it can provision their analytics applications with all relevant information. The task of finding data has traditionally resided with IT, but now organizations increasingl...
Oct. 4, 2015 04:00 PM EDT Reads: 361