Inwentash and the Joint Actor received an aggregate 16,377,277 common shares and 790,500 stock options of the Company in exchange for an aggregate 15,538,213 common shares and 750,000 stock options of PNR. As a result of the Amalgamation, the percentage ownership of Inwentash and the Joint Actor on a partially dilutive basis exceeded 10% of the issued and outstanding shares of PNRL. Immediately prior to the Amalgamation, Inwentash and the Joint Actor owned and controlled an aggregate of 15,538,213 common shares and 750,000 stock options of PNR, representing approximately 18.1% of all issued and outstanding common shares of PNR (or approximately 18.9% on a partially diluted basis assuming exercise of the stock options held). Of this total, Inwentash held an aggregate 7,319,668 common shares of PNR, representing approximately 8.5% of the issued and outstanding common shares of PNR (or approximately 9.3% on a partially diluted basis assuming exercise of the stock options held). The Joint actor held an aggregate of 8,218,545 common shares of PNR, representing approximately 9.6% of the issued and outstanding common shares of PNR on a non-dilutive and partially dilutive basis. Immediately following the Amalgamation, Inwentash and the Joint Actor own and control an aggregate of 16,377,277 common shares and 790,500 stock options of PNRL, representing approximately 14.5% of all issued and outstanding common shares of the Company (or approximately 15.1% on a partially dilutive basis assuming exercise of the stock options held). Of this total, Inwentash holds an aggregate of 7,714,930 common shares and 790,000 stock options of the PNRL, representing approximately 6.8% of the issued and outstanding common shares of the Company (or approximately 7.5% assuming the exercise of the stock options held).
The Joint Actor holds an aggregate of 8,662,347 common shares of the PNRL, representing approximately 7.7% of the issued and outstanding common shares of the Company on a non-dilutive and partially dilutive basis. The holdings of securities of the Company by Inwentash and the Joint Actor are managed for investment purposes, and Inwentash or the Joint Actor could increase or decrease its investments in the Company at any time, or continue to maintain its current position, depending on market conditions or any other relevant factor.
The common shares of PNR were originally acquired through a series of private placements for total consideration of
Additional Information
A copy of the applicable securities report filed in connection with the matters set forth above may be
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