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Plateau Energy Inc. (TSXV:PLU) announced that on of its investors, Robert Disbrow, has acquired ownership of 500,000 units of the company and has acquired exercise of control or direction over 2,112,500 units of the issuer. Each unit is comprised of one common share in the capital and half of one share purchase warrant.
As quoted in the press release:
Each whole warrant entitles the purchase of one common share at a per-share price of 60 cents until Dec. 19, 2016, subject to accelerated expiry in certain circumstances. The 2,612,500 common shares acquired represent approximately 6.47 per cent of the issuer’s issued and outstanding common shares. Following these acquisitions, Mr. Disbrow owns, and/or exercises control or direction over, an aggregate of 7,492,283 common shares, or approximately 18.56 per cent of the issuer’s issued and outstanding common shares, and owns, and/or exercises control or direction over, share purchase warrants entitling the purchase of an aggregate of 1,904,464 common shares; or, assuming the exercise of the warrants, a total of 9,396,747 common shares, or approximately 22.23 per cent of the issuer’s issued and outstanding common shares on a postconversion beneficial ownership basis.
The securities acquired were issued from the issuer’s treasury for cash subscriptions at a per-unit price of 45 cents for investment purposes by Mr. Disbrow, and by Mr. Disbrow for investment purposes on behalf of beneficial owners, through discretionary accounts over which he exercises control or direction, pursuant to a private placement offering conducted by the issuer. These securityholdings will be evaluated, and the investments increased or decreased as circumstances warrant.
Click here to read the Plateau Energy Inc. (TSXV:PLU) press release
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