Tickers: XTSX:LMGC, PINX:SLLTF
Tags: Mining
VANCOUVER, CANADA / TheNewswire / January 17, 2019 -- Le Mare Gold Corp. (TSXV: LMGC) (FSE: SL5) (OTC: SLLTF) ("Le Mare" or the "Company").
Yari Nieken ("Mr. Nieken") with offices located at Suite 310 - 221 West Esplanade, North Vancouver, BC V7M 3J3, announces that he has become associate (as such term is defined under Multilateral Instrument 62-104) with the Company, by reason of his acquisition of 666,667 flow-through units (the "FT Units") and 287,541 non-flow-through units (the "NFT Units") as well as indirect ownership and control of 666,666 NFT Units through 1113300 B.C. Ltd., a private company of which Nieken is a principal, at a price of $0.15 per FT and NFT Unit on December 31, 2018 (the "Private Placement"). The 666,667 flow-through common shares (the "FT Shares") and 287,541 common shares (the "Shares"), held directly, as well as his indirect interest in 666,666 Shares, and 954,208 share purchase warrants (the "Warrants") held directly and 666,666 Warrants held indirectly by 1113300 B.C. Ltd., comprising the FT Units and NFT Units acquired represent 9.2% of the Company's issued and outstanding common shares on a non-diluted basis or 16.8% of the Company's issued and outstanding common shares, calculated on a partially-diluted basis assuming the exercise of Mr. Nieken's Warrants.
After giving effect to the Private Placement referred to above, Mr. Nieken will beneficially own or control, directly and indirectly, an aggregate total of 1,620,874 Shares and 1,620,874 Warrants and no stock options, which collectively represent 16.8% of the Company's issued and outstanding common shares, calculated on a partially-diluted basis assuming the exercise of such Warrants.
David Greenway ("Mr. Greenway") with offices located at 310 - 221 West Esplanade, North Vancouver, BC V7M 3J3, announces that he has become associate (as such term is defined under Multilateral Instrument 62-104) with the Company, by reason of his acquisition of 333,333 FT Units as well as indirect ownership and control of 666,666 NFT Units through 1113300 B.C. Ltd., a private company of which Greenway is a principal, under the Private Placement. The 333,333 FT Shares held directly, as well as his indirect interest in 666,666 Shares, and 333,333 Warrants held directly and 666,666 Warrants held indirectly by 1113300 B.C. Ltd., comprising the FT Units and NFT Units acquired represent 5.7% of the Company's issued and outstanding common shares on a non-diluted basis or 10.7% of the Company's common shares, calculated on a partially-diluted basis assuming the exercise of Mr. Greenway's Warrants.
After giving effect to the Private Placement referred to above, Mr. Greenway will beneficially own or control, directly and indirectly, an aggregate total of 999,999 Shares, 999,999 Warrants and no stock options, which collectively represent 10.7% of the Company's issued and outstanding common shares, calculated on a partially-diluted basis assuming the exercise of such Warrants.
Mr. Greenway also acquired indirect ownership and control of 1,666,667 Shares issued to Bam Bam Capital Corp. a private company of which Greenway is a principal, at a deemed price of $0.165 per Share, pursuant to the Le Mare property option agreement (the "Acquisition").
After giving effect to the Private Placement and the Acquisition referred to above, Mr. Greenway will beneficially own or control, directly and indirectly, an aggregate total of 2,666,666 Shares and 999,999 Warrants and no stock options, which collectively represent 19.7% of the Company's issued and outstanding common shares, calculated on a partially-diluted basis assuming the exercise of such Warrants.
Messrs. Nieken and Greenway each acquired the FT Units and NFT Units under the Private Placement for investment purposes. Messrs. Nieken and Greenway each intends to evaluate his investment in the Company and to increase or decrease his shareholdings as he determines for investment purposes.
This press release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report"). A copy of the Early Warning Report may be found on www.sedar.com under the Company's profile.
ABOUT THE COMPANY
Le Mare is a resource exploration company engaged in the business of acquiring and exploring mineral properties.
ON BEHALF OF THE BOARD OF DIRECTORS
"David Alexander"
David Alexander, CFO
FOR FURTHER INFORMATION, CONTACT:
Le Mare Gold Corp.
c/o David Alexander, CFO
Phone: 1 (778) 772 8184
Email: dmalexander2@gmail.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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