AMERSFOORT, Netherlands, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Stichting Depositary Plethora Precious Metals Fund (“Plethora”) announces that on January 21, 2019 it acquired 3,125,000 common shares (“Shares”) of Labrador Gold Corp. (the “Company”) at $0.13 per Share. Plethora acquired the Shares by exercising its common share purchase warrants in the Company (“Warrants”) for cash consideration of CDN$406,250 (the “Exercise”). Plethora originally acquired the Warrants from the Company pursuant to a private placement that closed on February 2, 2017.
Prior to Exercise, Plethora owned or controlled 6,625,000 Shares, representing 12.56% of the Company’s issued and outstanding Shares on an undiluted basis. On a partially diluted basis, Plethora’s ownership of 6,625,000 Shares and 4,625,000 Warrants represented 19.61% of the Company’s issued and outstanding Shares prior to Exercise.
Following Exercise, Plethora owns or controls 9,750,000 Shares, 17.45% of the Company’s issued and outstanding Shares on an undiluted basis. On a partially diluted basis, Plethora’s ownership of Shares remains unchanged at 19.61% of the Company’s issued and outstanding Shares.
As a result of the Exercise, Plethora’s beneficial ownership, control or direction over the Company’s Shares increased by 4.89% on an undiluted 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 Shares 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.