BURNABY, BC, Aug. 28, 2019 /CNW/ - In connection with the completion of the previously announced non-brokered private placement (the "Private Placement") by Artemis Gold Inc. ("Artemis"), Beedie Investments Limited ("Beedie Investments") announces that on August 27, 2019, it acquired 11,111,111 units ("Purchased Units") comprised of one common share of Artemis ("Common Share") and one common share purchase warrant ("Warrant") entitling the holder to purchase one Common Share at a price of $1.08 per Common Share for a period of 60 months following the closing of the Private Placement. Beedie Investments purchased the Purchased Units at a subscription price of $0.90 per Purchased Unit for an aggregate subscription price of $10,000,000. Beedie Investments is an indirect wholly-owned subsidiary of Ryan Beedie, a director of the Company.
Following the completion of the Private Placement, Beedie Investments, together with Mr. Beedie, beneficially owns and has control over 14,378,773 Common Shares and 11,111,111 Warrants that are exercisable into a further 11,111,111 Common Shares. Assuming the exercise in full of such Warrants, Beedie Investments, together with Mr. Beedie, is deemed to beneficially own a total of 25,489,884 Common Shares, representing 42.99% of the issued and outstanding Common Shares of the Company.
Beedie Investments acquired the Units pursuant to the Private Placement for investment purposes. Beedie Investments and Mr. Beedie review their holdings in the Company on a continuing basis and may from time to time and at any time, in their 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 private placements by the Company and other privately negotiated transactions, or otherwise (including, if the Company becomes listed on a public exchange, through open market transactions), in each case in accordance with applicable securities laws.
A copy of the early warning report relating to the acquisition of Units pursuant to the Private Placement 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 Limited
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.