BURNABY, BC, Aug. 3, 2018 /CNW/ - Beedie Investments Ltd. ("Beedie Investments") announces that it has exercised its warrants to purchase 3,000,000 Common Shares (the "Common Shares") of Atlantic Gold Corporation (the "Company") having an exercise price of $0.60 per Common Share and an expiration date of August 20, 2018 (the "Warrants" and such exercise, the "Exercise").
In accordance with the terms of the Warrants, Beedie Investments acquired 3,000,000 Common Shares (the "Exercise Shares") in consideration of payment of the aggregate exercise price of $1,800,000.
Following the completion of the Exercise, Beedie Investments and its principal, Ryan Beedie, will hold (i) 64,957,676 Common Shares and (ii) options to purchase an additional 200,000 Common Shares (the "Options"). Accordingly, today's acquisition of Common Shares brings 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 Exercise and assuming the exercise in full of the Options.
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 Exercise 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 Exercise 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
For further information: Beedie Investments Ltd., 3030 Gilmore Diversion, Burnaby, BC V5G 3B4, Canada