Not for distribution to U.S. newswire services or for dissemination in the United States.
VANCOUVER, British Columbia, May 31, 2021 (GLOBE NEWSWIRE) -- GRM Investments Ltd. (“GRM”) announces that on May 27, 2021, GRM acquired an aggregate of 10,000,000 common shares of Capstone Mining Corp. (the "Issuer") at a price of $5.35 per share, representing 2.44% of the Issuer’s issued and outstanding common shares.
Including the above noted acquisition of 10,000,000 common shares of the Issuer, between March 9, 2020 and May 27, 2021, GRM acquired an aggregate of 12,513,500 common shares of the Issuer (collectively, the “Shares”) at prices ranging from $0.36 per share to $5.35 per share (collectively, the “Transactions”). The total consideration paid by GRM for the Shares was approximately $54,805,992.
GRM’s early warning report dated March 6, 2020 reported that GRM had beneficial ownership and control of 88,199,161 common shares of the Issuer, representing approximately 22.05% of the Issuer’s issued and outstanding common shares as of such date. Following the completion of the Transactions, GRM now has beneficial ownership and control of an aggregate of 100,712,661 common shares of the Issuer, or approximately 24.55% of the Issuer’s issued and outstanding common shares as of the date of this report, representing an increase of approximately 2.50% since the date of GRM’s last early warning report. GRM acquired the Shares on the open market through the facilities of the Toronto Stock Exchange (the “TSX”).
The common shares of the Issuer are listed on the TSX and trade under the symbol "CS".
The common shares of the Issuer acquired by GRM are held for investment purposes. GRM will review its investment in the Issuer’s common shares on a continuing basis and such holdings may be increased or decreased in the future. GRM may in the future acquire or dispose of common shares of the Issuer, through the open market, privately or otherwise, as circumstances or market conditions dictate.
GRM has filed an early warning report pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues describing the above transactions with applicable securities regulatory authorities, a copy of which is available on SEDAR at www.sedar.com.
The Issuer’s head office is located at 2100 – 510 West Georgia Street, Vancouver, British Columbia V6B 0M3.
GRM is a private company formed under the laws of the Province of British Columbia, the principal business of which is making investments, which include investments in securities.
For further information or for a copy of the early warning report, please contact:
Sam Parrotta, Chief Financial Officer
GRM Investments Ltd.
#200 – 1010 Seymour Street
Vancouver, British Columbia
V6B 3M6
| Telephone: | (604) 602-7711 |
| Fax: | (604) 688-7907 |