TORONTO, May 13, 2015 /CNW/ - K. Barry Sparks, CEO of Cencotech Inc. (the
"Company"), announced that he has acquired ownership of 425,806
common shares of the Company representing approximately 1.6% of the
issued and outstanding common shares of the Company and now has
ownership or control of 9,690,280 common shares, representing
approximately 35.5% of the issued and outstanding common
shares.
Mr. Sparks acquired the common shares of the Company as a result
of realizing on security for a long-standing debt owing to Mr.
Sparks at a price of $0.175 per
share.
Mr. Sparks intends to acquire additional common shares of the
Company for investment purposes in accordance with applicable
securities legislation. Mr. Sparks' position in the Company may be
increased or decreased in the future as considered appropriate in
light of investment criteria, market conditions and other factors
and in accordance with applicable securities legislation.
Ashley Park Enterprises Inc. is controlled by Mr. Sparks and may
be considered to be acting jointly or in concert with Mr.
Sparks.
The common shares were acquired in reliance on the private
agreement exemption from the formal bid requirements. The
acquisition of common shares was made from one person, no bid was
made generally to holders of common shares of the Company and the
value of consideration effectively paid for the common shares was
the market price of the common shares on the day prior to the date
of acquisition and was not greater than 115% of the market price of
the common shares on the date of the acquisition.
SOURCE CencoTech Inc.