Wong has acquired beneficial ownership of a total of two million common shares and one million warrants of Midpoint, which securities were acquired by Wong by way of a private placement of units at a price of five cents per unit for a total consideration of C$100,000.
These securities represent approximately 4% of the issued and outstanding common shares of Midpoint.
Immediately prior to the acquisition of the two million shares and one million warrants, Wong held 5,382,000 common shares and 2.55 million common share purchase warrants of Midpoint.
These common shares and warrants, together with the two million common shares and one million warrants acquired by Wong, would represent a total of 10,932,000 common shares, or 14.11% of the then issued and outstanding shares of Midpoint, calculated on a partially diluted basis, assuming exercise of all the warrants held by Wong.
The securities were acquired for investment purposes in a private placement, and Wong may increase or decrease his beneficial ownership of Midpoint in the future.
On Monday, Midpoint, which is seeking to raise C$250,000 via a private placement and late on Monday the company announced that it had closed the first tranche of C$188,450.
Midpoint Holdings Ltd operates a peer to peer foreign exchange and international payments platform through its wholly owned United Kingdom subsidiary, Midpoint & Transfer Ltd.