Each unit consisted of one common share and one share purchase warrant. Each warrant entitled the holder to purchase an additional common share at $0.05 for two years. This transaction triggered a regulatory requirement to file an Early Warning Report and a news release in
Early Warning Report - May 1, 2024
North Vancouver, British Columbia--(Newsfile Corp. - May 3, 2024) - On April 25, 2024, Elliot Strashin
purchased 5,000,000 private placement units of the Company at $0.02 per unit through Strashin
Developments Limited, a wholly owned corporation.
Each unit consisted of one common share and one
share purchase warrant. Each warrant entitled the holder to purchase an additional common share at
$0.05 for two years.
This transaction triggered a regulatory requirement to file an Early Warning Report and a news release in
accordance with National Instrument 62-103 "The Early Warning System and Related Take Over Bids
and Insider Reporting Issues".
Immediately prior to the transaction, Mr. Strashin had beneficial ownership and control of 18,850,000
common shares of the Company, representing approximately 12.34% of the issued and outstanding
common shares on a non-diluted basis.
In addition, Mr. Strashin held or controlled 520,000 share
purchase warrants to purchase 520,000 common shares.
Assuming the exercise of these share
purchase warrants, Mr. Strashin would hold 19,370,000 common shares of the Company or
approximately 12.64% of the issued and outstanding common shares.
Immediately after the transaction, Mr. Strashin had beneficial ownership and control of 23,850,000
common shares of the Company, representing approximately 14.66% of the issued and outstanding
common shares on a non-diluted basis.
In addition, Mr. Strashin held or controlled 5,520,000 share
purchase warrants to purchase 5,520,000 common shares.
Assuming the exercise of these share
purchase warrants, Mr. Strashin would hold 29,370,000 common shares of the Company or
approximately 17.46% of the issued and outstanding common shares.
All securities of the Company owned or controlled by Mr. Strashin are held for investment purposes.
He
intends to review, on a continuous basis, various factors related to his investment, including but not
limited to the price of the securities, developments affecting the Company or its business, and the
general market and economic conditions.
Based upon these and other factors, Mr. Strashin may decide
to purchase or sell securities of the Company. A copy of the Early Warning Report is available under the
Company's profile on SEDAR+ at
www.sedarplus.ca
.
For further information please contact J. Paul Stevenson, CEO (604) 682-2933.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. No regulatory authority has approved or disapproved the information contained in this news
release.
This release includes certain statements that may be deemed "forward-looking statements". All
statements in this release, other than statement of historical facts that address future production, reserve
potential, exploration drilling, exploitation activities and events or developments that the Company
expects re forward-looking statements. Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, statements are not guarantees
of future performance and actual results or developments may differ materially from the forward-looking
statements. Factors that could cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration successes, continued availability of
capital and financing, general economic, market or business conditions. Investors are cautioned that any
such statements are not guarantees of future performance and those actual results or developments may
differ materially from those projected in the forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/207908