Difference Capital Funding (DCF), a publicly listed merchant bank, has purchased 650,000 common shares of Espial Group (issuer), at a price of $0.85 per share, representing approximately 4.62% of the total issued and outstanding shares.
After closing of transaction, DCF will own total 1,613,300 shares, which stood at 11.48% of the outstanding shares of Espial Group.
Additionally, an associate of DCF, Michael Wekerle has acquired 700,000 shares of the company at a price of $0.85 per share, representing nearly 4.98% of the total issued and outstanding shares of the issuer.
With the closing of current share purchasing, Wekerle owns tatal 1,000,900 shares, representing 7.12% of the outstanding shares.
DCF and Wekerle are acquiring the shares for investment purposes, and together they own more than 2,611,700 shares of Espial Group, which is 18.6% of the outstanding shares.
Difference Capital Funding concentrates on building shareholder value using strategic investments in, and advisory services for, growth companies.