01 Communique Laboratory Inc. (the “Company”) (ONE:TSX-V) today announced that the Company’s President and Chief Executive Officer, Andrew Cheung’s holding company 1407513 Ontario Ltd. (“1407513”) has filed an early warning report (the “Report”) under the Company’s  profile on www.sedar.com as summarized below. This press release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of an early warning report.

Prior to the completion of the transaction set forth in the Report, 1407513 of 789 Don Mills Road, Suite 700, Toronto, Ontario M2C 1T5 owned, together with joint actors, 9,789,667 common shares in the capital of the Company and 1,390,000 options to acquire common shares in the capital of the Company.

On July 29, 2019 Mr. Cheung acquired a total of 466,666 units at a price of $0.12 per unit for total consideration of $49,999.92.  Each unit was comprised of one common share and one-half of one common share purchase warrant with each whole warrant entitling the holder to acquire one common share at a price of $0.15 per share at any time on or before July 29, 2021.  Following the foregoing transaction 1407513 holds, together with joint actors, 9,789,666 common shares, 208,333 common share purchase warrants and 1,390,000 options.  As a result of the foregoing transactions the percentage of restricted voting shares of the Company owned or controlled by 1407513 increased from 13.8% to 13.9%% (on a partially diluted basis).  This early warning report is being filed to update the 1407513’s early warning disclosure in respect of which 1407513’s ownership percentage has decreased from the approximately 32% ownership percentage reflected in the previous report as a result of certain transactions, including issuances by the Company, that have diluted 1407513’s holdings as reflected in the previous early warning report.

Immediately before the transaction that triggered the requirement to file the Report, 1407513 owned or controlled a total of 9,373,000 common shares and 1,390,000 options of the Company representing 12.2% of the issued and outstanding common shares on an undiluted basis and 13.8% on a partially diluted basis.  Immediately following the transactions that triggered the requirement to file the Report, 1407513 owned or controlled a total of 9,789,666 common shares, 208,333 common share purchase warrants and 1,390,000 options of the Company representing 12.2% of the issued and outstanding common shares on an undiluted basis and 13.9% on a partially diluted basis.

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Neither 1407513, nor to its knowledge, any of the joint actors, have a present intention to acquire or dispose of additional securities. Such intention may change depending on various factors including, without limitation, the Company’s financial position, the price levels of the common shares of the Company, conditions in the securities markets and general economic and industry conditions, and other factors and conditions 1407513 and/or the joint actors deem appropriate.

SOURCE 01 Communique Laboratory Inc.