UTRECHT, Netherlands, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Stichting Depositary Plethora Precious Metals Fund (“
Plethora
”) announces that its holdings of Labrador Gold Corp. (the “
Company
”) has decreased to less than 10% of the issued and outstanding shares of the Company, due to the closing of a non-brokered private placement of 7,500,000 flow-through units by the Company (the “
Transaction
”). The Transaction constituted the issuance of an additional 7,500,000 common shares to the issued and outstanding shares of the Company.
Prior to the Transaction, Plethora owned or controlled 7,463,000 common shares and 2,600,000 common share purchase warrants representing 10.49% of the Company’s issued and outstanding common shares on a partially diluted basis. On an undiluted basis, Plethora’s ownership before the Transaction represented 8.00% of the Company’s issued and outstanding common shares.
Following the Transaction, Plethora still owned or controlled an aggregate 7,463,000 common shares, and 2,600,000 common share purchase warrants of the Company. Plethora’s ownership, due to the Transaction, decreased to 9.73% of the issued and outstanding common shares on a partially diluted basis. On an undiluted basis, Plethora’s ownership after the Acquisition represents 7.40% of the Company’s issued and outstanding common shares.
As a result of the Transaction, 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 Transaction, 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.