Breathtec Biomedical Inc. said Canadian businessman Kulwant Malhi has acquired 23.89% of the company's shares following a number of securities transactions.
Malhi, the president and director of Cannabix Technologies Inc. and founder of BullRun Capital Inc., has acquired 6,851,171 common shares of Breathtec Biomedical through an offering and a share exchange agreement.
Malhi directly owns 331,501 shares of the Vancouver, British Columbia-based company. The remaining shares are held indirectly through private companies BullRun Capital and Cannabix Breathalyzer, which own 5,647,170 and 872,500 shares of Breathtec Biomedical, respectively. Malhi, BullRun and Cannabix together hold 6,407,170 warrants representing 22.34% of issued and outstanding shares of Breathtec Biomedical, which develops diagnostic equipment for cancers and liver and kidney diseases.