NEW YORK, March 26, 2021 /CNW/ - XpresSpa Group, Inc.
("XpresSpa") announces that its beneficial ownership of
Route1 Inc. ("Route1") as of the date hereof is 10.57%.
On March 22, 2018, in connection
with the acquisition of 100% of the membership interests of Group
Mobile Int'l, LLC, a wholly owned subsidiary of XpresSpa (the
"Acquisition"), Route1 issued to XpresSpa 2,500,000 Common
Shares ("Common Shares") and
warrants ("Warrants") to acquire up to 3,000,000 Common
Shares at a price per share of CAD$0.50.
On March 22, 2021, XpresSpa
exercised its Warrants in full pursuant to the cashless exercise
feature to acquire Common Shares.
Details of Acquisition
This news release provides only summary information with respect
to the Acquisition based on information that was provided by Route1
in its news release issued on March
23, 2018. Readers are urged to consult the full text
of the Route1 news release and also the Membership Purchase
Agreement dated March 7, 2018, a copy
of which has been filed by Route1 on SEDAR.
As of the date hereof, XpresSpa exercised direction and control
over 3,855,443 Common Shares.
Securityholding Percentage
Pursuant to the Management Information Circular filed by the
Issuer on SEDAR on November 3, 2020,
the Issuer disclosed that as of October 26,
2020, there were 35,104,609 Common Shares issued and
outstanding.
As of the date hereof, after the cashless exercise of the
Warrants, XpresSpa has control and direction over 10.57% of the
Common Shares on a partially-diluted basis.
About XpresSpa Group, Inc.
XpresSpa Group, Inc. (Nasdaq: XSPA) is a leading global health
and wellness holding company. XpresSpa Group's core asset,
XpresSpa, is a leading airport retailer of spa services and related
health and wellness products, with 45 locations in 23 airports
globally. Through its XpresTest, Inc. subsidiary, the company
provides COVID-19 screening and testing under the
XpresCheckTM brand at eleven locations in nine airports:
Boston Logan International Airport (2), Denver International Airport, Dulles
International Airport, Houston George Bush Intercontinental
Airport, JFK International Airport, Newark Liberty International
Airport (2), Phoenix Sky Harbor International Airport, Reagan
National Airport and Salt Lake City International Airport. To
learn more about XpresSpa Group, visit: www.XpresSpaGroup.com.
The address of XpresSpa is 254 West 31st Street,
11th Floor, New York, New
York 10001 U.S.A.
For Further Information
A report on Form 62-103F1 – Required Disclosure Under the
Early Warning Requirements is being filed by XpresSpa in
accordance with NI 62-103 and will be available under Route1's
profile at www.sedar.com. The head office of Route1 is 8
King Street East, Suite 600, Toronto,
Ontario M5C 1B5 Canada.
SOURCE XpresSpa Group, Inc.