NEWS RELEASE November 23th 2018
This press release is issued pursuant to National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers.
Seoul, Korea. – November 23, 2017– Sang Mok Lee of S212, 11-3 Techno 1Ro (GwanPyeong-Dong 1337), Yuseong-Gu, Daejeon, Korea, 34015, has acquired direct ownership of 13,221,737 common shares in the capital of Gravis Energy Corp. (the “Issuer”), with offices at Suite 95-1130 West Pender Street, Vancouver, B.C., V6E 2T5, Canada, which increased Dr. Lee’s percentage ownership of common shares of the Issuer held from nil to 30.51%. The shares acquired were acquired privately from two third parties pursuant to share sale and purchase agreements dated October 4, 2017 at a price of $0.005 per share for an aggregate price of $66,108. The shares represent 30.51% of the Issuer’s current issued and outstanding common shares.
Prior to the transaction that triggered the requirement to issue this news release, Dr. Lee owned and controlled no common shares of the Issuer. Immediately after the transaction that triggered the requirement to issue this news release, Dr. Lee owns, directly and indirectly, 13,221,737 common shares of the Issuer representing 30.51% of the Issuer’s issued and outstanding common shares.
The shares were acquired for investment purposes by Dr. Lee and Dr. Lee will evaluate his investment in the Issuer and will increase or decrease his investment by future acquisitions or dispositions of securities of the Issuer at his discretion, as circumstances warrant.
Dr. Lee is the founder and a shareholder of BiocurePharm Corporation (“BP”), a private Korean company, with which, the Issuer had entered into a merger agreement dated March 22, 2017 (the “Merger Agreement”). Pursuant to the Merger Agreement, following a 6.033479 old for one new consolidation of the Issuer’s common shares, the Issuer will issue to the shareholders of BP, 24 post-consolidation common shares for each share of BP held (the “Transaction”). As a result of the Merger Agreement, Dr. Lee, in his capacity as a shareholder of BP, will receive 25,090,272 post-consolidation common shares. The Transaction has not yet completed, but is expected to be completed within seven days of the date of this press release.
In the event that the Issuer completes the Transaction, Dr. Lee would hold an aggregate of 27,281,667 post-consolidation common shares of the Issuer representing 29.22% of the then issued and outstanding shares of the Issuer.
As of the date hereof and except as described above relating to the Transaction, Dr. Lee has no immediate future intention to acquire additional securities of the Issuer or dispose of securities of the Issuer that he beneficially owns.
A report respecting this acquisition, which is incorporated herein by reference, will be electronically filed with the Securities Commissions in Alberta, Ontario and British Columbia and with the Office of the Superintendent for Securities in the Yukon Territory and will be available for viewing through the Internet at the Canadian System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com. To obtain a copy of the report, contact the Issuer at 778-331-3816.
(signed) “Sang Mok Lee”