Loeb Holding Corporation Files Early Warning Report

TORONTO, Aug. 31, 2018 /CNW/ -- On August 17, 2018, Loeb Holding Corporation ("Loeb Holding"), a company whose operations are under the common control and direction of Bruce Lev as it relates to Engagement Labs Inc. ("Engagement Labs" and/or the "Company") (TSXV: EL), acquired an aggregate of 6,540,500 common shares and 3,270,250 warrants upon completion of a private placement (the "Private Placement") representing 4.58% of the issued and outstanding common shares of Engagement Labs assuming the exercise of the warrants. Pursuant to the terms of the Private Placement, Loeb Holding subscribed for 6,540,500 units at a price of $0.05 per unit. Each unit was comprised of one common share and one-half of one warrant exercisable at a price of $0.08 per share for a period of 24 months.  

Prior to the acquisition of the securities from the Private Placement, Loeb Holding, directly or indirectly, beneficially owned 13,193,347 common shares of Engagement Labs, 16,277,250 warrants and 1,669,800 options, representing approximately 22.95% of the issued and outstanding common shares of Engagement Labs on a partially diluted basis if Loeb Holding were to exercise all of its warrants and vested options. As a result of the closing of the Private Placement, Loeb Holding now owns 19,733,847 common shares of Engagement Labs, 19,547,500 warrants and 1,669,800 options, all of which combined represents approximately 20.96% of the outstanding common shares of Engagement Labs on a partially diluted basis if Loeb Holding were to exercise all of its warrants and vested options.

Loeb Holding acquired the common shares for investment purposes. Loeb Holding may acquire additional securities of Engagement Labs in the future, may dispose of some or all of the securities or may continue to hold its current position of Engagement Labs.

When Loeb Holding acquired the additional common shares through the Private Placement, its position together with the holdings of common shares of Engagement Labs directly or indirectly held by both Loeb Investors Co. 170, LP ("Loeb 170") and Mr. Bruce Lev corresponded to 21.94% of the issued and outstanding common shares of Engagement Labs on a partially diluted basis. Mr. Lev is the General Partner of Loeb 170 and Managing Director of Loeb Holding. In this capacity, Mr. Lev has control and direction over the voting and disposition of securities of Engagement Labs held by Loeb Holding and Loeb 170, but does not beneficially own such securities.

Neither Loeb Holding nor Loeb 170 have acquired additional common shares of Engagement Labs since the Private Placement.

The early warning report required under the Early Warning Rules contains additional information with respect to the foregoing matters and will be filed by Loeb Holding under the Engagement Labs profile at www.sedar.com.

For media inquiries please contact:

Bruce Lev
Loeb Holding Corporation
Loeb Investors Co. 170, LP
BLev@loebpartners.com
212-483-7000

SOURCE Loeb Holding Corporation; Engagement Labs