CALGARY, Alberta, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Todd Montgomery (“Mr. Montgomery”), announces that on October 18, 2017 he disposed of ownership, control or direction of 4,350,000 common shares (the “Shares”) of Canadian Platinum Corp. (the “Company”) at a price of CDN $0.02 per common share for aggregate consideration of CDN $87,000 (the “Transaction”). The Shares were disposed of by Mont Strategies Inc., a company wholly owned and controlled by Mr. Montgomery. The Transaction occurred on the TSX Venture Exchange.
Prior to the Transaction, Mr. Montgomery had ownership, control or direction of 58,576,242 common shares, representing 31.75% of the 184,467,496 issued and outstanding common shares of the Company. Following the completion of the Transaction, Mr. Montgomery had ownership, control or direction of 54,226,242 common shares, representing 29.39% of the total number of issued and outstanding common shares of the Company. Mr. Montgomery disposed of the Shares for investment purposes, and has no current intention to increase his beneficial ownership of, or control or direction over, securities of the Company. These investments will be reviewed on a continuing basis and holdings may be increased or decreased in the future.
In order to complete the Transaction, Mr. Montgomery is relying on NI 45-102, s. 2.8 – Exemption for a Trade by a Control Person – by fulfilling the conditions contained therein, obtaining permission with the TSX Venture Exchange and electronically filing Form 45-102F1 – Notice of Intention to Distribute Securities – on the Company’s SEDAR Profile at www.sedar.com.
As a result of the Transaction, the number of common shares Mr. Montgomery had ownership, control or direction over decreased by more than 2% of the Company’s issued and outstanding common shares. In satisfaction of the requirements of the 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 disposition of common shares by Mr. Montgomery and the certain entities over which he has direction and control over will be filed under the Company’s SEDAR Profile at www.sedar.com.
For more information, contact:
Todd D. Montgomery
c/o Suite 310, 525 - 11th Avenue SW
Calgary, Alberta T2R 0C9
Phone: 306-694-1388
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.