Dave Guebert Announces Acquisition of Common Shares of Times Three Wireless Inc.
CALGARY, ALBERTA--(Marketwire - Nov. 5, 2012) -
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Further to disclosure requirements of applicable securities laws, Dave Guebert announces that he has acquired 7,000,000 common shares ("Common Shares") of Times Three Wireless Inc. ("Times Three") at a deemed issue price of $0.05 per Common Share, such Common Shares issuable pursuant to the terms of a debt settlement agreement between Mr. Guebert and Times Three, whereby the parties agreed to settle outstanding secured debentures and unsecured advances by Mr. Guebert to Times Three by way of (among other things) the payment to Mr. Guebert of the amount of $350,000 payable through the issuance of 7,000,000 Common Shares at $0.05 per share. The 7,000,000 Common Shares acquired by Mr. Guebert represent approximately 9.2% of the outstanding Common Shares (after giving effect to a concurrent private placement of 28,000,000 common shares and a separate shares for debt settlement transaction of 5,000,000 common shares).
Immediately following Mr. Guebert's acquisition of the 7,000,000 Common Shares, Mr. Guebert owns or controls 8,168,653 Common Shares (inclusive of 1,168,653 Common Shares already owned and controlled by Mr. Guebert), 348,333 options to purchase common shares ("Options") and 291,667 warrants to purchase Common Shares ("Warrants"). The 8,168,653 Common Shares owned and controlled by Mr. Guebert represent approximately 10.8% of the outstanding Common Shares. Assuming Mr. Guebert exercises all of the convertible securities of Times Three held by him as set forth above (being 348,333 Options and 291,667 Warrants) to acquire an aggregate 640,000 Common Shares, Mr. Guebert will own and control an aggregate of 8,808,653 Common Shares, representing approximately 11.5% of the outstanding Common Shares, based on there being 76,608,256 Common Shares of Times Three issued and outstanding.
Mr. Guebert acquired the 7,000,000 Common Shares for investment purposes. Mr. Guebert may in the future take such actions in respect of his holdings as he may deem appropriate in light of the circumstances then existing, including the purchase of additional common shares or other securities of Times Three through open market purchases or privately negotiated transactions, or the sale of all or a portion of his holdings in the open market or in privately negotiated transactions to one or more purchasers.
A copy of Mr. Guebert's related early warning report filed with the applicable securities commissions.
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