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Michael Gentile announces that he has filed an early warning report (the "Report") announcing the acquisition (the "Acquisition") of an aggregate of 18,103,333 units (the "Units") in the capital of Big Ridge Gold Corp. (the "Company") in connection with the Company's non-brokered private placement. Each Unit was comprised one common share (each, a "Common Share") in the capital of the Company and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.46 until July 7, 2029.
Prior to the completion of the Acquisition, Mr. Gentile beneficially owned and controlled an aggregate of 30,511,500 Common Shares, representing approximately 10.35% of the issued and outstanding Common Shares on an undiluted basis and on a partially diluted basis. Upon completion of the Offering, Mr. Gentile beneficially owns and controls, an aggregate of 48,614,833 Common Shares and 18,103,333 Warrants, representing approximately 15.28% of the issued and outstanding Common Shares on an undiluted basis and approximately 19.9% on a partially diluted basis.
All securities of the Company held by Mr. Gentile are held for investment purposes. In the future, Mr. Gentile may, from time to time, increase or decrease his ownership, control or direction over securities of the Company held by him through market transactions, private agreements or otherwise, depending on market conditions, the business and prospects of the Company and other relevant factors.
For further details relating to the Acquisition, please see the Report, a copy of which is available on SEDAR+, or by contacting Michael Gentile at (416) 361-2517.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304454
