TORONTO, July 20, 2017 /CNW/ - In accordance with regulatory requirements, Mr. John Gamble ("Gamble"), a director of Icon Exploration Inc. ("Icon"), reports that he has recently acquired beneficial ownership and control of 2,835,967 common shares of Icon at a deemed price of $0.05/share pursuant to the settlement of $131,798.36 debt owed him.
Prior to this debt conversion transaction, Gamble owned or controlled 332,000 common shares of Icon. Upon completion of the shares for debt transaction, Gamble now has ownership and control of 3,167,967 shares representing approximately 13.6% of the outstanding shares of Icon on a non-diluted basis. On a partially diluted basis (assuming the exercise of all 449,908 stock options held by Gamble), Gamble would have ownership and control over approximately 15.2% of the then issued Icon shares.
The securities acquired by Gamble are held for investment purposes only. Gamble may acquire additional Icon shares or dispose of Icon shares (through market or private transaction) from time to time.
A copy of the related early warning report may be obtained under Icon's profile on the SEDAR website (www.sedar.com) or from Gamble at 1110 Hansler Road, Welland, Ontario L3C 7M5.
SOURCE Icon Exploration Inc.