AMERSFOORT, Netherlands, May 22, 2020 (GLOBE NEWSWIRE) -- Stichting Depositary Plethora Precious Metals Fund (“Plethora”) announces that on May 21, 2020 it acquired 1,000,000 Units (hereinafter defined) of Pacific Empire Minerals Corp. (the “Company”) at $0.05 per Unit pursuant to a private placement for gross proceeds of $50,000 (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 Warrant entitles the holder thereof to acquire one Share for $0.10 until May 21, 2023.
Prior to this Acquisition, Plethora owned or controlled 4,500,000 Shares and 3,000,000 common share purchase warrants representing 16.33% of the Company’s issued and outstanding Shares on a partially diluted basis. On an undiluted basis, Plethora’s ownership before the Acquisition represented 10.49% of the Company’s issued and outstanding Shares. Following the Acquisition, Plethora now owns or controls an aggregate 5,500,000 Shares and 4,000,000 common share purchase warrants, representing 18.12% of the issued and outstanding Shares on a partially diluted basis. On an undiluted basis, Plethora’s ownership after the Acquisition represents 11.36% of the Company’s issued and outstanding Shares.
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 securities by Plethora will be filed under the Company’s SEDAR Profile at www.sedar.com.
Plethora acquired the Units for investment purposes only, and depending on market and other conditions, Plethora may from time to time in the future increase or decrease their ownership, control or direction over securities of the Company, through market transactions, private agreements, or otherwise.
Plethora is incorporated under the laws of the Netherlands and its head office is located at Prins Hendriklaan 26, 1075HD, Amsterdam, Netherlands. The principal business of Plethora is a Management Fund.
For information, please contact:
Douwe van Hees - Fund Manager
Prins Hendriklaan 26
1075HD, Amsterdam
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.