RTO Results in Ownership in Maritime Launch Services Inc.

HALIFAX, NS, April 4, 2022 /CNW/ - Maritime Launch Services Inc. (formerly Jaguar Financial Corporation (the "Company") announced it has closed its previously announced reverse takeover transaction (the "RTO") with Maritime Launch Services Ltd., a private Nova Scotia company ("MLS NS") on April 1, 2022. 

As a result of the RTO, Stephen Matier, through his company Silverwing Enterprises LLC, has acquired 86,631,750 common shares of the Company in exchange for his shares of MLS NS. Following such acquisition, Mr. Matier, together with joint actors pursuant to applicable securities legislation, controls 86,631,750 shares representing 21.47% of the outstanding shares of the Company. Mr. Matier also acquired 2,250,000 options to acquire additional shares at an exercise price of $0.167 per share. On a diluted basis assuming the exercise of all options controlled by him, Mr. Matier would control 88,881,750 shares representing 21.91% of those then outstanding. Mr. Matier's shares are expected to be subject to an escrow agreement pursuant to which 25% of his shares will be released from escrow on each of the Company's listing date and the six, twelve and eighteen month anniversaries of the listing date. Mr. Matier is now a director and Chief Executive Officer of the Company. From time to time, Mr. Matier may increase or decrease his direct or indirect ownership, control or direction over the shares in the normal course of his investment activities.

As a result of the RTO, Sasha Jacob, through his company Jacob Capital Management Inc., has acquired 115,676,235 common shares of the Company in exchange for his shares of MLS NS. Following such acquisition, Mr. Jacob, together with joint actors pursuant to applicable securities legislation, controls 115,676,235 shares representing 28.67% of the outstanding shares of the Company.  Mr. Jacob also acquired 2,250,000 options to acquire additional shares at an exercise price of $0.167 per share and, through Jacob Capital Management Inc., acquired 13,500,000 warrants to acquire additional shares at an exercise price of $0.078 per share. On a diluted basis assuming the exercise of all options and warrants controlled by him, Mr. Jacob would control 131,426,235 shares representing 31.35% of those then outstanding. Mr. Jacob's shares and warrants are expected to be subject to an escrow agreement pursuant to which 25% of his shares and warrants will be released from escrow on each of the Company's listing date and the six, twelve and eighteen month anniversaries of the listing date. Mr. Jacob is now a director of the Company. From time to time, Mr.  Jacob may increase or decrease his direct or indirect ownership, control or direction over the shares in the normal course of his investment activities.

SOURCE Maritime Launch Services Inc.

For further information, including a copy of the 62-103F1 report (also filed on SEDAR): Sarah McLean, 1883 Upper Water, Suite 303, Halifax, Nova Scotia B3J 1S9, 902.402.6947, [email protected]