VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) — This information launch is issued by Alexander Gray (“Mr. Gray”) pursuant to the early warning necessities of Canada’s National Instrument 62-104 and National Instrument 62-103 with respect to proportionate voting shares (the “PV Shares”) of Inspire Semiconductor Holdings Inc. (previously Greenfield Acquisition Corp.) (the “Issuer”).
Mr. Gray declares that he has acquired PV Shares in reference to the reverse-takeover (the “Reverse Takeover”) of the Issuer by Inspire Semiconductor, Inc. (“Old Inspire”), which was accomplished on September 20, 2022. Pursuant to the Reverse Takeover, Old Inspire amalgamated with a wholly-owned subsidiary of the Issuer and the shareholders of Old Inspire grew to become the shareholders of the Issuer. In reference to the Reverse Takeover, the Issuer modified its title to “Inspire Semiconductor Holdings Inc.”. The Reverse Takeover was authorised by shareholders of the Issuer at an annual common and particular assembly held on September 13 2022. Pursuant to the Reverse Takeover, Mr. Gray was issued 482,376.37 PV Shares. Mr. Gray acquired 0.01 PV Share in change for one (1) frequent share of Old Inspire (the “Old Inspire Shares”), after bearing in mind: (i) the share conversion (the “Conversion”) of Old Inspire Series A, Series A-1 and Series A-2 Preferred Stock (collectively, the “Old Inspire Preferred Shares”), at a ratio of 1:1 pre-Conversion Old Inspire Preferred Shares to 1 (1) post-Conversion Old Inspire Share, and (ii) the inventory cut up (the “Stock Split”) of Old Inspire Shares accomplished after the Conversion, whereby every excellent Old Inspire Share was exchanged for five.697942 Old Inspire Shares. The Conversion and Stock Split occurred instantly previous to the Reverse Takeover and the acquisition of the Resulting Issuer Shares by Mr. Gray.
Upon completion of the Reverse Takeover, Mr. Gray acquired helpful possession and management over 482,376.37PV Shares, representing roughly 26.75% of the issued and excellent PV Shares on an as transformed foundation.
Mr. Gray acquired the PV Shares for funding functions and should, relying on market and different situations, enhance or lower his helpful possession, management, or route over securities of the Issuer by market transactions, non-public agreements, treasury issuances, train of warrants, or in any other case.
The PV Shares acquired pursuant to the Reverse Takeover had been acquired in reliance upon the business mixture exemption underneath part 2.11 of National Instrument 45-106 Prospectus and Registration Exemptions.
For additional data and to acquire a duplicate of the early warning report filed underneath relevant Canadian provincial and territorial securities laws in reference to the transactions described herein, please go to the Issuer’s profile on the SEDAR web site (www.sedar.com) or contact John Kennedy at [email protected].
