Stichting Depositary Plethora Precious Metals Fund Reports Equity Interest in Pacific Empire Minerals Corp. (TSXV: PEMC)
TSX VENTURE: PEMC
AMERSFOORT, Netherlands, May 23, 2019 (GLOBE NEWSWIRE) -- Stichting Depositary Plethora Precious Metals Fund (“Plethora”) announces that on May 22, 2019 it acquired 2,000,000 Units (herein defined) of Pacific Empire Minerals Corp. (the “Company”) at $0.07 per Unit pursuant to a private placement for aggregate gross proceeds of $140,000 (the “Acquisition”). Each “Unit” acquired consists of one common share in the Company (a “Share”) and one common share purchase warrant in the Company (a “Warrant”). Each whole Warrant entitles the holder to acquire one Share for $0.14 until May 22, 2022.
Prior to this Acquisition, Plethora owned or controlled 2,000,000 Shares and 1,000,000 Warrants representing 8.83% of the Company’s issued and outstanding Shares on a partially diluted basis. On an undiluted basis, Plethora’s ownership before the Acquisition represented 6.45% of the Company’s issued and outstanding Shares. Following the Acquisition, Plethora now owns or controls an aggregate 4,000,000 Shares and 3,000,000 Warrants, representing 14.07% of the issued and outstanding Shares on a partially diluted basis. On an undiluted basis, Plethora owns 4,000,000 Shares, representing 9.35% of the Company’s issued and outstanding Shares.
As a result of the Acquisition, Plethora beneficially owns, or exercises control or direction over more than 10% of the Company’s issued and outstanding common shares on a partially diluted basis. In satisfaction of the requirements of 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, an Early Warning Report respecting the acquisition of common shares by Plethora will be filed under the Company’s SEDAR Profile at www.sedar.com.
Plethora acquired the Units for investment purposes only. These investments will be reviewed on a continuing basis and holdings may be increased or decreased in the future.
Plethora is incorporated under the laws of the Netherlands and its head office is located at Smallepad 30F, 3811 MG Amersfoort, Netherlands. The principal business of Plethora is a Management Fund.
For information, please contact:
Douwe van Hees- Fund Manager
3811 MG Amersfoort
Phone: +3 16 14 51 46 92
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.