On or about July 12, 2021, Mark Itwaru sold 8,000,000 common shares (the “Shares”) of Personas Social Incorporated (the “Issuer”) representing 12.9% of the 61,958,860 Common Shares of the Issuer that Mark Itwaru held (or 2.45% of the 325,589,359 Issuer’s Common Shares outstanding) to an arm’s length party pursuant to a settlement with the Issuer’s former chief marketing officer. Following the transfer, Mark Itwaru will beneficially own an aggregate of 53,958,860 common shares of the Issuer or 16.57% of the Issuer’s outstanding common shares and options to purchase 350,000 common shares at a price of $0.30, options to purchase 150,000 common shares at a price of $2.00, options to purchase 3,500,000 common shares at a price of $0.05, options to purchase 14,492,800 common shares at a price of $0.05 and 19,570,670 warrants to purchase 19,570,670 common shares at a price of $0.075. Mark Itwaru, the President and CEO of the Issuer, is also the sole director and officer of Riavera Corp. (“Riavera”) (but not beneficial owner of Riavera) and accordingly has control and direction over the shares of the Issuer held by Riavera, which together with Mark Itwaru’s beneficial holdings of 61,958,860, constitute an aggregate of 186,756,517 common shares (or 57.4% of the Issuer’s currently outstanding common shares) to which Mark Itwaru beneficially owns or has control and direction over as the sole director and officer of Riavera. In addition, Riavera has no options and warrants.
An early warning report will be filed by Mark Itwaru in accordance with applicable securities laws. To obtain a copy of the early warning report, please refer to the Issuer’s SEDAR profile at www.sedar.com.
In the future, Mark Itwaru may acquire additional securities of the Issuer, dispose of some or all of the securities it now owns or controls, or may continue to hold its current position.
The Common Shares of the Issuer are listed on the TSX Venture Exchange under the trading symbol “PRSN”.
For further information contact Mark Itwaru at (416) 815-7000.