Major Shareholder of SkyWire Increases Ownership of Shares in RSI International Systems Inc.
May 24, 2016 8:37am
Las Vegas, Nevada, U.S.A. (May 24, 2016) - Ernest W. Moody Revocable Trust a significant owner in SkyWire Media, Inc. (the “Trust”) wishes to announce that it has executed an agreement with Hotel Room Xpress Pte. Ltd., Xpress Credit Limited and Heng Fung Capital Company Limited (the “Vendors”), together with ZH International Holdings Limited, the parent company of the Vendors, pursuant to which the Trust will acquire the 8,031,664 common shares of RSI International Systems Inc. (the “Corporation”) owned by the Vendors in consideration for a payment of C$1,485,857.84 (the “Transaction”). The Shares represent approximately 25.12% of the Corporation’s 31,967,126 issued and outstanding common shares. Closing is scheduled to be completed on June 30, 2016 to facilitate the logistics of transferring the Shares.
For the purpose of National Instrument 62-103 early warning reporting, the address of the Trust is 175E Reno Avenue, Ste. 6 C, Las Vegas, Nevada, 89119. Prior to the Offering, the Trust owned 2,333,333 common shares of the Corporation representing approximately 7.30% of the Corporation’s 31,967,126 issued and outstanding common shares as well as 1,166,667 warrants which, if exercised, would result in the Trust owning 3,5000,000 common shares of the Corporation representing 10.56% of the Corporation’s 33,133,793 issued and outstanding common shares on a partially diluted basis. In addition, SkyWire Media, Inc. (“SkyWire”), located at 7251 Amigo Street, Suite 210, Las Vegas, Nevada 89119, a company acting jointly and in concert with the Trust, currently owns 6,000,000 common shares of the Corporation representing 18.77% of the Corporation’s outstanding shares as well as 3,000,000 warrants which, if exercised, would result in SkyWire owning 9,000,000 common shares of the Corporation representing 25.74% of the Corporation’s 34,967,126 issued and outstanding common shares and partially diluted basis.
As a result of the purchase, the Trust has ownership of a total of 10,364,997 common shares and 1,116,667 warrants of the Corporation representing approximately 32.42% of the Corporation’s 31,967,126 issued and outstanding common shares and, assuming exercise of the warrants, 11,531,664 common shares representing 34.80% of the 33,133,793 issued and outstanding common shares on a partially diluted basis and the Trust and SkyWire combined owning 16,364,997 common shares and 4,166,667 warrants representing approximately 51.19% of the Corporation’s 31,967,126 issued and outstanding common shares and, assuming exercise of the warrants, 20,531,664 common shares representing 56.82% of the 36,133,793 issued and outstanding common shares on a partially diluted basis.
The Shares were acquired for investment purposes only, however, the Trust and SkyWire will review their holdings from time to time and may increase or decrease their position as future circumstances may dictate.
FOR FURTHER INFORMATION PLEASE CONTACT:
ERNEST W. MOODY REVOCABLE TRUST
SKYWIRE MEDIA, INC.
Tel: 702-515-7472 Ext 127
CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain “forward-looking statements”.
SkyWire is an award winning, global provider of enterprise-grade technologies for the hospitality industry. SkyWire's cloud based solution set includes Point-of-Sale, Property Management, Spa, and Workforce Management systems; all centered on patented mobile marketing technology. SkyWire delivers world-class, core enterprise technologies that are versatile, secure, and resilient. For more information, visit www.skywire.com.
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