TORONTO, ONTARIO--(Marketwire - Jan. 10, 2013) - Kernwood Limited ("Kernwood") announced today that it has exercised common share purchase warrants (the "Warrants") to acquire 1,041,666 common shares (the "Common Shares") in the capital of Brick Brewing Co. Limited (the "Company") (TSX:BRB) for aggregate consideration to the Company of $739,582.86.
The 1,041,666 Common Shares represent approximately 3.6% of the outstanding Common Shares of the Company.
Prior to such transaction, Kernwood beneficially owned or exercised control or direction over 3,273,633 Common Shares and 1,041,666 Warrants representing, assuming the full exercise of the Warrants, 14.7% of the issued and outstanding Common Shares. Kernwood now beneficially owns or exercises control or direction over 4,315,299 Common Shares (and no Warrants) representing 14.7% of the issued and outstanding Common Shares.
Kernwood exercised the Warrants and continues to hold its Common Shares of the Company for investment purposes. Depending on market conditions and other factors, Kernwood may from time to time acquire additional securities of the Company or dispose of additional securities of the Company in the open market, by private agreement or otherwise.
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