Press Release Regarding Early Warning Reports

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Calgary, Alberta--(Newsfile Corp. - February 10, 2023) - Scaling Capital 1 Corp. (TSXV: SKAL.P) (the "Corporation") announces the filing of early warning reports in connection with the previously announced completion of its initial public offering (the "Offering") (see news release of February 10, 2023).

On February 10, 2023, directly following closing of the Offering, the Corporation issued to its directors and officers an aggregate of 1,700,000 options to purchase 1,700,000 common shares in the capital of the Corporation ("Common Shares") at an exercise price of $0.10 per Common Share, expiring February 10, 2033 (collectively, the "Options", and each, an "Option").

The grant included 212,500 Options being issued to each of James Fox and John Wilson, directors of the Corporation, and 850,000 Options being issued to Alex Tapscott, President and Chief Executive Officer of the Corporation.

Prior to the acquisition, Mr. Fox owned, indirectly, 5,000,000 Common Shares. Mr. Fox now owns, indirectly, 5,000,000 Common Shares, representing 29.41% of the issued and outstanding Common Shares, and, directly, Options to acquire 212,500 Common Shares. Assuming the exercise of all Options held by Mr. Fox, he will own 5,212,500 Common Shares representing 30.28% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.

Prior to the acquisition, Mr. Wilson owned, directly, 2,000,000 Common Shares. Mr. Wilson now owns, directly, 2,000,000 Common Shares, representing 11.76% of the issued and outstanding Common Shares, and, directly, Options to acquire 212,500 Common Shares. Assuming the exercise of all Options held by Mr. Wilson, he will own 2,212,500 Common Shares representing 12.85% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.

Prior to the acquisition, Mr. Tapscott owned, indirectly, 1,500,000 Common Shares. Mr. Tapscott now owns, indirectly, 1,500,000 Common Shares, representing 8.82% of the issued and outstanding Common Shares, and, directly, Options to acquire 850,000 Common Shares. Assuming the exercise of all Options held by Mr. Tapscott, he will own 2,350,000 Common Shares representing 13.17% of the issued and outstanding Common Shares, after giving effect to the exercise of the Options held by him.

The Options were granted to Mr. Fox, Mr. Wilson and Mr. Tapscott as part of the compensation program of the Corporation.

The Corporation is located at Suite 800, 333 - 7th Avenue SW, Calgary, Alberta, T2P 2Z1.

Reports respecting these acquisitions will be filed with the applicable securities commissions using the System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Corporation's profile at www.sedar.com.

For further information or to obtain copies of the early warning reports, please contact Alex Tapscott, President and Chief Executive Officer of the Corporation at 416 922-2822 or via email at [email protected].

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154444

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).