News Release - Early Warning Report Issued Pursuant to Ni 62-103 - Acquisition of Securities of Guyana Goldstrike Inc.

(TheNewswire)



This press release is being disseminated as required by National Instrument 62 ‐ 103 in connection with the filing of an Early Warning Report regarding the acquisition of securities of Guyana Goldstrike Inc. (the " Company ") (TSXV:GYA) (OTC:GYNAF) .

On February 12, 2021 Gold Mountains Asset Management Limited ( GMA ) (the " Acquiror ") purchased (the " Acquisition ") 1,500,000 units of the Company's private placement (each, a " Unit ") at a price of $0.10 per Unit.  Each Unit consisted of one common share of the Company, and one common share purchase warrant exercisable to acquire an additional common share at a price of $0.15 for a period of thirty-six months following the close of the Private Placement.

GMA is a wholly-owned subsidiary of Zijin Mining Group , and purchased the Units on behalf of Zijin Global Fund .

Immediately prior to the Acquisition, the Acquiror held 2,560,000 common shares of the Company representing approximately 21.9% of the issued and outstanding shares of the Company. Following the Acquisition, the Acquiror held 4,060,000 common shares, representing approximately 16.4% of the issued and outstanding shares of the Company. Assuming exercise of only the warrants controlled by GMA, it would have control of 5,560,000 common shares of the Company, representing approximately 22.5% of the then issued and outstanding common shares of the Company.

The Units were acquired for investment purposes only and not for the purpose of exercising control or direction over the Company. The Acquiror may, from time to time, increase or decrease its shareholding or continue to hold common shares of the Company as it may determine appropriate in the normal course of investment activity. In the future, the Acquiror may, directly or indirectly, acquire additional common shares of the Company or dispose of such shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.

A copy of the Early Warning Report to be filed by the Acquiror will be available on SEDAR under the Company's profile on www.sedar.com.

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National 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 .

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release nor have they approved nor disapproved the content thereof.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Map of Ontario, Canada, with "Top 5 Canadian Mining Stocks This Week" text overlay.

Top 5 Canadian Mining Stocks This Week: Onyx Gold Shines with 118 Percent Gain

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released April’s gross domestic product (GDP) numbers on Friday (June 27).

The data shows a slowing in the Canadian economy with a 0.1 percent monthly decline after it increased 0.2 percent in March as businesses attempted to get ahead of US tariff deadlines.

Keep reading...Show less
Gold bars with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: GBM Soars on AU$13 Million Raise

Welcome to the first edition of the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

In significant news for Australia's iron sector, mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), together with its joint venture partner Hancock Prospecting, said on Tuesday (June 24) that the partners will invest a combined US$1.6 billion to develop the Hope Downs 2 iron ore project in the Pilbara region, Western Australia.

Companies focused on antimony and gold have also been making news this week, such as Resolution Minerals (ASX:RML) announcing its acquisition of the Horse Heaven project in Idaho, US, and Ausgold (ASX:AUC,OTC Pink:AUSGF) signing an agreement to acquire Critica’s (ASX:CRI,OTC Pink:VTMLF) Kulin gold project in Western Australia.

Keep reading...Show less

Latest Press Releases

Related News

×