Acquisition of Common Shares and Options of Sproutly Canada, Inc.

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(TheNewswire)




Vancouver, B.C. / TheNewswire / August 8, 2018 – Mr. Aman Bains announces that in connection with the plan of arrangement and reverse takeover transaction of Stone Ridge Exploration Corp. (now Sproutly Canada, Inc. (the "Company")) by Sproutly, Inc. ("Sproutly"), as further described in the Company's press release dated July 6, 2018 (the "Transaction"), Mr. Bains acquired ownership and control of common shares (the "Shares") and incentive stock options (the "Options") of the Company.

Pursuant to the Transaction, among other things, shareholders of Sproutly received approximately 2 Shares in exchange for each common share of Sproutly held by such shareholder immediately prior to the effective time of the Transaction.

Upon the closing of the Transaction (the "Closing"), Mr. Bains indirectly acquired 16,000,494 Shares and 2,235,273 Options (collectively, the "Securities") of the Company.

As a result of the acquisition of the Securities, at Closing Mr. Bains controlled an aggregate of 17,937,994 Shares (12,599,060 Shares held through 0788286 B.C. Ltd., a company controlled by Mr. Bains of which he is a 50% shareholder and 5,388,934 Shares held through Park Pointe Ventures Inc., a company controlled by Mr. Bains) and 2,253,273 Options which represented approximately 14.58% of the Company's issued and outstanding Shares (based on 123,060,267 Shares outstanding upon the closing of the Transaction) on a non-diluted basis or approximately 16.11% of the Company's issued and outstanding Shares on a partially-diluted basis assuming the exercise of Mr. Bains' Options only.

The acquisition by Mr. Bains of the Securities was primarily made for investment purposes. Mr. Bains may increase or decrease his investment in the Company from time to time according to market conditions or other relevant factors.

Mr. Bains is issuing this news release pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the related early warning report (the "Report") will be issued and filed by Mr. Bains on the SEDAR website at www.sedar.com under the Company's profile.

The Company's head office is located at 1050 - 1095 W. Pender Street, Vancouver, BC V6E 2M6. For further information or to obtain a copy of the Report, contact Keith Dolo, the Chief Executive Officer of the Company, at [email protected].

Copyright (c) 2018 TheNewswire - All rights reserved.