Robert Nygren announces that pursuant to the closing of a private placement as of today's date, he purchased 1,538,462 common shares (the "Common Shares") of Epic Data International Inc. (the "Company"), at a price of $0.13 per Common Share for total consideration of $200,000.06. Prior to the purchase of these Common Shares, Mr. Nygren owned an aggregate of 37,500 common shares of the Company, representing approximately 2.9% of the Company's issued and outstanding common share capital as well as stock options (the "Stock Options") exercisable into 415,000 common shares of the Company, for an aggregate of 452,500 common shares of the Company or approximately 3.5% of the outstanding shares of the Company, assuming the exercise of the Stock Options in full. As a result of the Common Shares of the Company acquired by Mr. Nygren under the Private Placement, at present, Mr. Nygren owns an aggregate of 1,990,962 common shares of the Company, assuming the exercise of the Stock Options in full, for a total of approximately 12.45% of the outstanding common shares of the Company, assuming no other common shares are issued by the Company.
Mr. Nygren has relied on Section 2.3 of National Instrument 45-106 - Prospectus and Registration Exemptions in connection with the issuance of the Common Shares. Mr. Nygren has acquired the Common Shares for investment purposes and may acquire further securities of the Company for investment purposes, in the market or privately, from time to time.
A copy of the report filed by Mr. Nygren in connection with this acquisition is available on the SEDAR website at www.sedar.com (http://www.sedar.com) or by contacting Mr. Nygren at the number shown below.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.