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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 6,666,666 charity flow-through units (the "CFT Units") in the capital of Cascadia Minerals Ltd. (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, issued on a "flow-through basis" and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one additional Common Share until December 22, 2028 at an exercise price of $0.20 per Common Share.
Prior to the completion of the Acquisition, Mr. Gentile beneficially owned and controlled, directly or indirectly, 8,075,500 Common Shares, 6,052,394 Warrants and 200,000 stock options, representing approximately 5.16% of the Company's issued and outstanding Common Shares on an undiluted basis and approximately 8.81% of the Company's issued and outstanding Common Shares on a partially diluted basis. Following the completion of the Acquisition, Mr. Gentile beneficially owns and controls, directly or indirectly, an aggregate of 14,742,166 Common Shares, 9,385,727 Warrants and 200,000 stock options, representing approximately 8.36% of the Company's issued and outstanding Common Shares on an undiluted basis and approximately 13.10% of the Company's issued and outstanding on a partially diluted basis.
The Common Shares were acquired for investment purposes. Mr. Gentile has a long-term view of the investment and may acquire additional securities of the Company either on the open market or through private acquisitions or sell the Common Shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or 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 (514) 591-4227.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278986
