BURNABY, BC, Aug. 3, 2018 /CNW/ - Beedie Investments Ltd. ("Beedie Investments") announces that on August 1, 2018, it acquired 30,000 Common Shares (the "Common Shares") of Atlantic Gold Corporation (the "Company") at a purchase price of $1.7337 per Common Share for aggregate consideration of $52,011.00 and on August 2, 2018, it acquired 292,900 Common Shares at a purchase price of $1.7104 for aggregate consideration of $500,976.16 (collectively, the "Acquisitions").
Following the completion of the Acquisitions, Beedie Investments and its principal, Ryan Beedie, will hold (i) 61,957,676 Common Shares, (ii) options to purchase an additional 200,000 Common Shares (the "Options") and (iii) warrants to purchase 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"). The Acquisitions bring the total number of Common Shares owned or deemed to be owned by Beedie Investments to 65,157,676, representing approximately 28.1% of the current issued and outstanding Common Shares following the Acquisitions and assuming the exercise in full of the Options and the Warrants.
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 Acquisitions 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 the Common Shares pursuant to the Acquisitions will be available under the Company's profile on SEDAR, and may also be obtained by contacting Beedie Investments at (604) 435-3321.
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
For further information: Beedie Investments Ltd., 3030 Gilmore Diversion, Burnaby, BC V5G 3B4, Canada