British Columbia Discovery Fund to acquire shares of Vigil Health Solutions

 

These shares represent nine per cent of the outstanding common shares of Vigil prior to exercise of the warrants held by the fund or of any other outstanding warrants to acquire common shares of Vigil. The exercise price was USD0.10 per share, so that Vigil receives proceeds of USD115,385 as a result of this transaction.

 

Following this transaction, as well as a disposition through the TSX Venture Exchange on 22 May 2013 of 1,182,346 common shares of Vigil, the fund holds 3,026,906 common shares of Vigil, representing 21 per cent of the outstanding common shares of Vigil immediately after the fund’s exercise of its warrants.

 

In addition, DCMC, which has voting control and direction over the holdings of the fund, is custodian of and has voting control over 376,106 common shares of Vigil which are being held for the benefit of former shareholders of Discovery Capital Corporation (DCC). These shares represent approximately three per cent of the outstanding common shares of Vigil immediately after exercise of the warrants. Accordingly, DCMC presently has voting control and direction over a combined total of approximately 24 per cent of the outstanding common shares of Vigil after exercise of the warrants. Harry Jaako, director of the fund and of Vigil, and a principal of DCMC, also holds common shares representing an approximate 0.2 per cent interest in Vigil.

 

The purchase of common shares on exercise of the warrants was made by the Fund for investment purposes.

 

The fund may acquire ownership of additional securities of Vigil, or the fund (and/or DCMC on behalf of the fund and/or the former shareholders of DCC) may dispose of securities of Vigil, as circumstances arise or market conditions warrant. The fund and DCC have been long-term investors of Vigil.