Moon River Moly Ltd. Provides Early Warning Disclosure
Moon River Moly Ltd. Provides Early Warning
Disclosure
Toronto, Ontario--(Newsfile Corp. - May 8, 2026) - Moon River Moly Ltd. (TSXV: MOO) (OTCQB:
MRIVF) ("
Moon River
" or the "
Company
") - announces that an early warning report has been filed in
respect of Mr. Ian McDonald's ("
McDonald
") holdings of the Company.
On November 15, 2023, McDonald was granted 600,000 stock options ("
Options
") to purchase
common shares of the Company ("
Common Shares
"), 200,000 of which vested immediately and an
additional 200,000 vested on each of the first and second anniversaries of the grant date.
Immediately prior to the Option Vesting (as defined below), McDonald had beneficial ownership of, or
control or direction, over 2,944,000 Common Shares and 200,000 Options which had vested or will vest
within 60 days of such date, pursuant to previously issued Options by the Company, representing
approximately 8.93% of the issued and outstanding Common Shares on a non-diluted basis
(approximately 9.42% of the issued and outstanding Common Shares on a partially diluted basis).
On September 16, 2024, 200,000 of the Options had already vested and another 200,000 would vest
within 60 days of such date. Accordingly, as of such date, McDonald had beneficial ownership of (within
the meaning of National Instrument 62-104 -
Take-Over Bids and Issuer Bids
), or control or direction
over, 2,944,000 Common Shares and 400,000 Options (the "
Option Vesting
"). After giving effect to the
Option Vesting, McDonald had beneficial ownership of, or control or direction over, approximately 8.9%
of the then issued and outstanding Common Shares on a non-diluted basis (approximately 10.02% of
the then issued and outstanding Common Shares on a partially diluted basis).
On September 15, 2025, the Company issued 336,280 Common Shares from treasury (the
"
Issuance
"). Following the Issuance, the resulting beneficial ownership of McDonald in respect of the
Common Shares and securities convertible into Common Shares, fell below 10% of the issued and
outstanding Common Shares on a partially diluted basis, as McDonald had beneficial ownership of, or
control or direction over, approximately 8.78% of the then issued and outstanding Common Shares on a
non-diluted basis (approximately 9.92% of the then issued and outstanding Common Shares on a
partially diluted basis) (the "
Dilution
"). The Dilution arose solely as a result of the Issuance without any
action being taken by McDonald.
Subsequently, on September 16, 2025, due to the impending vesting within 60 days of an additional
200,000 previously granted Options, McDonald had beneficial ownership of, or control or direction over,
2,944,000 Common Shares and 600,000 Options (the "
Second Option Vesting
"). After giving effect to
the Second Option Vesting, McDonald had beneficial ownership of, or control or direction over
approximately 8.78% of the then issued and outstanding Common Shares on a non-diluted basis
(approximately 10.46% of the then issued and outstanding Common Shares on a partially diluted basis).
More recently, on February 26, 2026, McDonald acquired 776,470 units of the Company ("
Units
") at a
price of $0.85 per Unit, pursuant to a private placement offering (the "
Acquisition
", and collectively with
Option Vesting and Second Option Vesting, the "
Acquisitions
"). Each Unit consisted of one Common
Share and one half of one Common Share purchase warrant ("
Warrant
"). Each Warrant is exercisable
to acquire one Common Share at a price of $1.15 per Common Share for a period of 24 months,
provided that the Warrants could not be exercised until April 27, 2026.
After giving effect to the Acquisitions and the Issuance, as of February 27, 2026, McDonald had
beneficial ownership of, or control or direction over, 3,720,470 Common Shares, 600,000 Options
exercisable within 60 days and 388,235 Warrants, representing approximately 9.9% of the issued and
outstanding Common Shares on a non-diluted basis (approximately 12.22% of the issued and
outstanding Common Shares on a partially diluted basis).
This news release is being issued pursuant to National Instrument 62-104 -
Take-Over Bids and Issuer
Bids
and National Instrument 62-103 -
The Early Warning System and Related Take-Over Bid and
Insider Reporting Issues
. Persons who wish to obtain a copy of the early warning report filed by the
Company, on behalf of McDonald, may obtain a copy of such report from
www.sedarplus.ca
or by
contacting the Company.
McDonald acquired the securities of the Company for investment purposes and may, depending on the
market and other conditions, increase, decrease or change his beneficial ownership over the Common
Shares or other securities of the Company through market transactions, private agreements, treasury
issuances, exercises of convertible securities or otherwise.
A copy of the early warning report with respect to the foregoing will appear on the Company's profile on
SEDAR+ at
www.sedarplus.ca
and may also be obtained by contacting the Company at (416) 800-1753
or
.
About Moon River
Moon River is a Canadian-based resource company focused on the acquisition, exploration and
development of mineral projects. Moon River is focused on the development of the Davidson Property
which hosts a large molybdenum-tungsten deposit and is located near Smithers, British Columbia. The
Company also holds 25% of one of the largest molybdenum mines in North America, the Endako Mine
Complex also located in British Columbia.
For further information, please contact:
Paul Parisotto, President, Chief Executive Officer and Director, at (416) 800-1753 or
.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/296765