TORONTO, Aug. 20, 2020 /CNW/ - Copper Plate Success Limited ("Acquiror") announced today that, on August 18, 2020, it acquired ownership and control of 11,014,779 ("Shares") of Xanadu Mines Ltd ("Issuer") through a two tranche Placement ("Placement") undertaken by the Issuer at a price of approximately CDN$0.43 per Share for total proceeds of CDN$472,021.84.
The address of the Acquiror is Heritage Trust Services (BVI) Limited, Ground Floor, Coastal Building, Wickhams Cay 11, PO Box 3169, Road Town, Tortola, British Virgin Islands. The registered office of the Issuer is C/- Company Matters Pty Limited, Level 12, 680 George Street, Sydney NSW 2001, Australia.
The Placement was made in Australia.
As a result of the acquisition of 11,014,779 Shares of the Issuer, the Acquiror now owns or controls, directly 84,446,644 Shares of the Issuer representing approximately 8.90% of the current total issued and outstanding Shares of the Issuer or indirectly, an aggregate of 195,719,478 Shares, representing approximately 20.62% of the current total issued and outstanding Shares of the Issuer.
The Shares were acquired for investment purposes only. Depending on market and other conditions, the Acquiror may from time to time in the future increase or decrease their ownership, control or direction over the Shares or other securities of the Issuer, through market transactions, private agreements or otherwise.
CAAF Ltd is a "joint actor", as defined under National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI-62-103"), of the Acquiror. This press release is issued pursuant to NI 62-103.
A copy of this press release and a copy of the Early Warning Report will be filed on www.sedar.com.
SOURCE Copper Plate Success Limited
For further information: Aaron Rozario, Tel: +65 6568 3920