BURNABY, BC, Sept. 21, 2016 /CNW/ - Beedie Investments Ltd. ("Beedie Investments") announces that it has acquired 300,000 common shares ("Common Shares") of Atlantic Gold Corporation (the "Company") pursuant to a private share purchase agreement at a price of C$1.06 per share for a total purchase price of C$318,000 (the "Private Purchase"). The Common Shares acquired under the Private Purchase represent approximately 0.18% of the current issued and outstanding Common Shares.
Following the completion of the Private Purchase, Beedie Investments will hold (i) 40,093,514 Common Shares, (ii) warrants to purchase an additional 3,000,000 Common Shares having an exercise price of $0.60 per Common Share and an expiration date of August 20, 2018 (the "Warrants") and (iii) a Secured Convertible Debenture of the Company convertible into a further 13,333,333 Common Shares (the "Debenture"). Accordingly, today's acquisition of Common Shares brings the total number of Common Shares owned or deemed to be owned by Beedie Investments to 56,426,847, representing approximately 34.3% of the current issued and outstanding Common Shares assuming the exercise in full of the Warrants and the conversion in full of the Debenture (but without giving effect to the conversion of any accrued and unpaid interest thereon).
Beedie Investments is an indirect wholly-owned subsidiary of Ryan Beedie, who is a director of the Company.
Beedie Investments acquired the Common Shares under the Private Purchase for investment purposes. Beedie Investments reviews its holdings in the Company on a continuing basis and may from time to time and at any time, in its sole discretion, acquire or cause to be acquired additional equity or debt securities or other instruments of the Company, or dispose or cause to be disposed such equity or debt securities or instruments, through open market transactions, private placements by the Company and other privately negotiated transactions, or otherwise, in each case in accordance with applicable securities laws.
A copy of the early warning report relating to Beedie Investment's acquisition of Common Shares pursuant to the Private Purchase will be available under the Company's profile on SEDAR, and may also be obtained by contacting Beedie Investments at (604) 435-3321.
Beedie Investments Ltd.
3030 Gilmore Diversion
Burnaby, BC V5G 3B4
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Beedie Investments Ltd.
For further information: Beedie Investments Ltd., 3030 Gilmore Diversion, Burnaby, BC V5G 3B4, Canada, (604) 435-3321