J.L. Albright IV Venture Funds acquire securities of Espial Group Inc.

J.L. Albright IV Venture Funds acquire securities of Espial Group Inc.


OTTAWA, Nov. 19, 2013 /CNW/ - J.L. Albright Venture Partners ("JLA
Ventures") announces that three of its managed funds, J.L. Albright IV
Venture Fund L.P., J.L. Albright IV Parallel Venture Fund L.P. and J.L.
Albright IV Parallel II Venture Fund L.P. (collectively, the "Funds")
purchased an aggregate of 428,571 units (the "Units") on a private
placement basis (the "Offering") from Espial Group Inc. ("Espial" or
the "Company") pursuant to the terms of subscription agreements (the
"Subscription Agreements"). Each Unit was purchased at a price of
$0.70 per Unit and consists of one common share of the Company (a
"Common Share") and one half of one Common Share purchase warrant (each
whole Common Share purchase warrant, a "Warrant"). Each Warrant
entitles the holder thereof to acquire one Common Share at a price of
$0.72 per share for a period of twelve months from the date of
issuance. In connection with the Offering, the Funds purchased an
aggregate of 428,571 Units, which are comprised of 428,571 Common
Shares and 214,285 Warrants. Upon exercise of the Warrants in full,
the Funds would acquire 214,285 Common Shares.



Prior to the Offering, the Funds held 2,800,000 Common shares and
823,529 Common Share purchase warrants (the "2010 Warrants"), which, to
the knowledge of the Funds, represented 25.4% of the issued and
outstanding Common Shares (assuming full exercise of the 2010
Warrants). The Common Shares and Warrants acquired by the Funds in
connection with the Offering represent, to the knowledge of the Funds,
approximately 3.2% of the current issued and outstanding Common Shares
(assuming full exercise by the Funds of the Warrants). As of the date
hereof, the Funds hold, to their knowledge, 4,266,385 Common Shares
(assuming full exercise by the Funds of the Warrants and 2010
Warrants), which, to the knowledge of the Funds, would represent 20.5%
of the issued and outstanding Common Shares (assuming full exercise by
the Funds of the Warrants and 2010 Warrants).



The foregoing acquisitions were made for investment purposes. JLA
Ventures may, directly or indirectly, depending on market and other
conditions, acquire beneficial ownership of, control or direction over,
additional Common Shares, through market transactions, private
agreements or otherwise. JLA Ventures may, depending on market and
other conditions, sell any or all of the Common Shares held by the
Funds.



A copy of the early warning report relating to this transaction is
available under Espial's SEDAR profile at www.sedar.com and can be obtained from the contact below.


SOURCE ESPIAL GROUP

ESPIAL GROUP

CONTACT: on the Funds visit www.jlaventures.com or contact: Tawfiq Arafat
J.L. ALBRIGHT VENTURE PARTNERS
Bay Adelaide Center
333 Bay Street, Suite 600
Toronto, Ontario
M5H 2R2
Telephone: (416) 367-2440
Facsimile: (416) 367-4604
E-mail: info@jlaventures.com


-------
Profile: intent