VANCOUVER, July 11, 2016 /CNW/ - HTI VENTURES CORP. (TSXV –HTI.H) (the "Company") is pleased to announce that Neil Woodyer, Frank Giustra, Bernadette D`Silva and Jay Sujir have been appointed to the Company's board of directors and the Company has appointed Neil Woodyer as Chief Executive Officer and Jasvir Kaloti as Chief Financial Officer and Corporate Secretary. Tena McEachen, Marilyn Miller, Greg Schifrin, and Patrice Nazareno, have resigned from the board and the board would like to thank them for their services.
In connection with the foregoing appointments, an aggregate of 3,500,000 incentive stock options have been granted to directors, officers, consultants and charitable organizations at a price of $0.125 per share, exercisable for a period of 10 years, subject to TSX-V approval.
The Company has scheduled an AGM for August 8, 2016 to change its name to Leagold Mining Corporation, continue its jurisdiction of incorporation to BC, and adopt more current articles.
The Company has also entered into a mandate agreement with Fiore Management & Advisory Corp. to provide financial advice and corporate administration.
The Company further announces that Neil Woodyer acquired 10,500,000 common shares pursuant to a private transaction. The acquisitions represent 29.6% of the issued and outstanding common shares of the Company. As a result of the acquisition of securities described above, Neil Woodyer directly and indirectly, owns and or controls, in aggregate 10,500,000 common shares of the Issuer, representing 29.6% of the current issued and outstanding common shares of the Company and would own 11,900,000 common shares, representing 32.3% on a partially diluted basis, assuming exercise of 1,400,000 incentive stock options held by Neil Woodyer directly.
The Company also announces that Fiore Financial Corporation, a company owned and controlled by Frank Giustra, and the Radcliffe Foundation, a charitable organization controlled by Frank Giustra, acquired 6,150,000 common shares pursuant to a private transaction. The acquisition represents 17.36% of the issued and outstanding common shares of the Company. As a result of the acquisition of securities described above, Frank Giustra directly and indirectly, owns and or controls, in aggregate 6,150,000 common shares of the Issuer, representing 17.36% of the current issued and outstanding common shares of the Company and would own 6,650,000 common shares, representing 18.51% on a partially diluted basis, assuming exercise of the 500,000 incentive stock options and held by Frank Giustra directly.
The Company has been advised that Neil Woodyer and Mr. Giustra and his related entities acquired these securities for investment purposes and as disclosed in the Early Warning Report, may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.
ON BEHALF OF HTI VENTURES CORP.
"Neil Woodyer" Neil Woodyer
Chief Executive Officer
Neither the 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 release.
SOURCE HTI Ventures Corp.
For further information: Jasvir Kaloti, CFO & Corporate Secretary, Tel: (604) 609-6138