Prophecy Development Corp.

Stichting Depositary Plethora Precious Metals Fund Reports Equity Interest in Prosper Gold Corp. Ltd. (TSXV: PGX)

AMERSFOORT, The Netherlands, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Stichting Depositary Plethora Precious Metals Fund (“Plethora”) announces that on September 9, 2019 it acquired 3,000,000 Units (herein defined) of Prosper Gold Corp. (the “Company”) at $0.05 per Unit pursuant to a private placement for aggregate gross proceeds of $150,000 (the “Acquisition”). Each “Unit” acquired consists of one common share in the Company (a “Common Share”) and one common share purchase warrant in the Company (a “Warrant”).  Each whole Warrant entitles the holder to acquire one Common Share for $0.08 until September 9, 2021.

Prior to the Acquisition, Plethora had ownership or direction and control over an aggregate of 5,600,000 Common Shares and 4,250,000 Warrants prior to the Acquisition, representing approximately 15.23% of the issued and outstanding Common Shares on a partially diluted basis. On an undiluted basis, the Plethora owned 5,600,000 common shares, representing 9.27% of the issued and outstanding Common Shares. Following the Acquisition, Plethora has ownership or direction or control over 8,600,000 Common Shares and 7,250,000 Warrants representing approximately 18.08% of the issued and outstanding Common Shares on a partially diluted basis. On an undiluted basis, the Plethora now has ownership or direction or control over 8,600,000 Common Shares, representing 10.70% of the issued and outstanding Common Shares.

As a result of the Transaction, the number of Common Shares of the Company Plethora beneficially owns, or exercises control or direction over has increased by more than 2%. 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                                          
Smallepad 30F
3811 MG Amersfoort
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.

 

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