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Stichting Depositary Plethora Precious Metals Fund (" Plethora ") announces that its holdings of Prosper Gold Corp. (the " Company ") has decreased to less than 10% of the issued and outstanding shares of the Company, due to the expiry of 250,000 purchase warrants previously issued by the Company to Plethora (the " Event "). The Event was preceded by a share consolidation, completed on September 8, 2020, whereby the Company's 80,558,916 outstanding common shares were reduced to 8,055,091 common shares. As of the date of this news release, the Company has 13,546,801 outstanding common shares.
Prior to the Event, Plethora owned or controlled 950,909 common shares and 640,909 common share purchase warrants representing 11.22% of the Company's issued and outstanding common shares on a partially diluted basis. On an undiluted basis, Plethora's ownership of the Company before the Event represented 7.02% of the Company's issued and outstanding common shares.
Following the Event, Plethora owned or controlled an aggregate 950,909 common shares, and 390,909 common share purchase warrants of the Company. Plethora's ownership, due to the Event, decreased to 9.63% of the issued and outstanding common shares on a partially diluted basis. On an undiluted basis, Plethora's ownership after the Event represents 7.02% of the Company's issued and outstanding common shares.
As a result of the Event, Plethora's ownership of the Company decreased to less than 10% of the issued and outstanding shares of the Company on a partially diluted basis, which was the subject of the most recent report required to be filed by Plethora in respect of the Company under National Instrument 62-104 – Take-Over Bids and Company Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues . As a result of the Event, Plethora has ceased to be an insider of the Company.
In satisfaction of the requirements of National Instrument 62-104 – Take-Over Bids a nd Company Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an early warning report respecting the acquisition of securities by Plethora will be filed under the Company's SEDAR Profile at www.sedar.com .
Depending on market and other conditions, Plethora may from time to time in the future increase or decrease their ownership, control or direction over securities of the Company, through market transactions, private agreements, or otherwise.
Plethora is incorporated under the laws of the Netherlands and its head office is located at Prins Hendriklaan 26, 1075HD, Amsterdam, Netherlands. The principal business of Plethora is a Management Fund.
For information, please contact:
Douwe van Hees- Fund Manager
Prins Hendriklaan 26
1075HD, Amsterdam
Netherlands
Phone: +3 16 14 51 46 92
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Figure 1: Long Section of the Never Never Gold Deposit and the Pepper, Four Pillars and West Winds Gold Prospects looking east. Proposed exploration drill drive design in black.
