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TORONTO, ONTARIO--(Marketwired - June 17, 2013) - Mosaic Capital Partners LP ("Mosaic") today announced that it has acquired ownership of 2,000,000 common shares (the "Common Shares") of AirIQ Inc. ("AirIQ"), representing approximately 11% of the total issued and outstanding common shares of AirIQ immediately prior to the transaction. The shares were acquired in connection with a debt-to-equity transaction whereby $100,000 of debt due to Mosaic was satisfied by the issuance of 2,000,000 shares of AirIQ at a price of $0.05 per share. As a result of this transaction, Mosaic holds an aggregate of 4,249,999 common shares of AirIQ, including the Common Shares, representing approximately 19.9% of all of the issued and outstanding common shares of AirIQ as at June 14, 2013. |
