NOTRE-DAME DE L'ÎLE PERROT, QUEBEC--(Marketwire - Oct. 16, 2012) - On October 16, 2012, John McAllister acquired from one person (through John McAllister Holdings Inc. ("JMH"), a company owned by Mr. McAllister), (the "Acquisition") ownership of 7,700,000 common shares (the "Shares") of Extenway Solutions Inc. ("Extenway"). The Acquisition was done through the facilities of the TSX Venture Exchange at a price of $0.03 per share and the Shares represent approximately 5.76% of Extenway's 133,631,794 issued and outstanding common shares. Prior to October 16, 2012, Mr. McAllister beneficially owned, through his RRIF and through JMH, 24,288,535 common shares of Extenway or approximately 18.18% of Extenway's outstanding common shares.
As a result of the Acquisition, Mr. McAllister beneficially owns, through his RRIF and JMH, 31,988,535 common shares of Extenway, representing approximately 23.94% of Extenway's 133,631,794 issued and outstanding common shares.
The Shares were acquired for investment purposes. Mr. McAllister's investment in Extenway will be reviewed on a continuing basis and his holdings may be increased or decreased in the future. Any future purchases or sales of the common shares of Extenway will depend upon market conditions, compliance with applicable regulatory requirements and other factors.
The Acquisition of the Shares was made in reliance upon the private agreement exemption in Section 4.2 of Regulation 62-104 respecting Take-Over Bids and Issuer Bids (c. V-1.1, r. 35). The purchase of the Shares was made from only one person, the offer was not made generally to all the holders of Extenway's common shares and the consideration paid per Share, including brokerage fees or commissions, was not greater than 115% of the market price of the common shares of the Extenway (as determined in accordance with the said Regulation).