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This press release is issued pursuant to Multilateral 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.
Mr. Vincent Bilodeau (the "Acquiror") reports an intention to undertake security transactions in Silver Hammer Mining Corp. (the "Issuer") including potential public market sales, on a direct basis, in the total quantity of up to 2,000,000 common shares (the "Proposed Divested Shares").
The proposed disposition triggers the requirement for an Early Warning Report (Form 62-103F1) to be posted to SEDAR+ (referenced hereby) and this required news release prior to the execution of the sales.
The Acquiror currently holds 15,775,382 common shares, representing approximately 11.27% of the Issuer's issued and outstanding common shares (based on the Issuer reporting 139,922,966 shares outstanding).
Following the proposed sale of the 2,000,000 Proposed Divested Shares, the Acquiror would hold 13,775,382 common shares of the Issuer, representing approximately 9.85% of the Issuer's common shares, which would bring the Acquiror's total ownership interest below the 10% threshold.
The Proposed Divested Shares are intended to be sold from time to time through the facilities of the Canadian Securities Exchange or other public markets at prevailing market prices.
The Acquiror is undertaking this proposed divestment strictly to satisfy regulatory thresholds and maintains a long-term positive outlook on the value and operations of the Issuer. The Acquiror may acquire or sell securities of the Issuer in the future depending upon market conditions, the Acquiror's investment objectives and/or other relevant factors. Other than the foregoing or as publicly filed, the Acquiror does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.
"Vincent Bilodeau"
Vincent Bilodeau
The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from SEDAR+ www.sedarplus.ca. Alternatively, for a report copy, contact Mr. Bilodeau at 418-808-2081 or c/o 1498 Rue Vallières, Lévis, QC, G7A 2G9.
The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved of the contents of this press release.
Source: Vincent Bilodeau
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300668
