TORONTO, May 30, 2018 /CNW/ - On May 30, 2018, 2625312 Ontario Inc. (2625312) purchased (the Acquisition) 4,976,075 common shares (Common Shares) of God's Lake Resources Inc. (the Company) from Michael Sheridan (Sheridan), President and Chief Executive Officer of the Company, and 560,000 Common Shares from Sheridan's wholly owned company, Tough-Oakes Explorations Inc. (Tough-Oakes), pursuant to a share purchase agreement with Sheridan and Tough-Oakes at a price of approximately $0.2539 per Common Share (for a total of $1,405,609.44). 2625312 is a company wholly owned by Merrilyn Driscoll. The 5,536,075 Common Shares comprising the Acquisition (the Acquired Shares) represents approximately 59.96% of the issued and outstanding Common Shares of the Company.
Prior to the transaction described herein, neither 2625312 nor Merrilyn Driscoll owned or controlled any Common Shares in the Company. Immediately following the transaction described herein, 2625312 acquired ownership of the Acquired Shares.
2625312 acquired the Acquired Shares for investment purposes. 2625312 has a long-term view of the investment and may acquire additional securities of the Company on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. 2625312 is relying on Section 4.2 of National Instrument 62-104 Take-over Bids and Issuer Bids for the Acquisition since, among other things, the Acquisition was made from two persons and the consideration paid, including brokerage fees or commissions, is not greater than 115% of the simple average of the closing prices for each of the 20 business days preceding the date of Acquisition.
The transaction was completed outside of any market or other facility.
The address of the Company is c/o 2625312 Ontario Inc., 100 Wellington Street West
Suite 2110, Toronto, Ontario, M5K 1H1. The address of 2625312 is 100 Wellington Street West
Suite 2110, Toronto, Ontario, M5K 1H1.
An early warning report (the EWR) will be filed on SEDAR and will be available for review at www.sedar.com under the Company's SEDAR profile. A copy of the EWR can be obtained from the contact below.
SOURCE 2625312 Ontario Inc.
For further information: Blair Driscoll, (416) 364-8788