VANCOUVER, March 24, 2016 /CNW/ - BCI Ventures Inc. ("BCI") announces that it has purchased the following securities of Marathon Gold Corporation ("Marathon"):
- 2,000,000 units of Marathon ("Marathon") for $0.50 per unit, with each such unit consisting of one Common share of Marathon (each, a "Share") and one half of one warrant, with each full warrant entitling the holder to purchase an additional Share for $0.75 per Share until August 21, 2016 pursuant to a private placement.
- 1,400,000 units of Marathon for $0.25 per unit, with each such unit consisting of one Share and one half of one warrant, with each full warrant entitling the holder to purchase an additional Share for $0.34 per Share until June 26, 2017 through a private placement.
- 500,000 Shares for $0.23331 per share on the TSX Venture Exchange (the "TSXV").
- 932,500 Shares for $0.20968 to $0.21825 per share on the TSXV.
Following these transactions, BCI owns 10,172,283 Shares and warrants entitling the holder to purchase an additional 2,725,641 Shares, being 10.9% of the outstanding Shares and 13.4% assuming exercise of all warrants held by BCI.
BCI advises that the securities have been acquired for investments purposes. BCI may, depending on the market and other conditions, increase or decrease his beneficial ownership of the Marathon's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
This press release is issued pursuant to Multilateral Instrument 62-104, which also requires a report to be filed containing additional information with respect to the foregoing matters.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Marathon Gold Corporation
For further information: BCI Ventures Inc., 137 South Oxley Street, West Vancouver, B.C., 604-831-9104