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VANCOUVER, Sept. 24, 2019 /CNW/ - Elemental Capital Partners LLP ("Elemental") announces that Elemental has acquired direct or beneficial ownership in additional securities of Industria Metals Inc. ("Industria"). More specifically, Elemental has acquired direct or beneficial ownership in an additional 200,000 common shares ("Common Shares") of Industria through participation in the private placement that closed on September 20, 2019.
Prior to the private placement, Elemental held and controlled 1,915,500 common shares in the Capital of Industria. On September 20, 2019, Elemental acquired an additional 200,000 common shares of Industria for $0.05 per share ($10,000), representing 0.98% of the undiluted issued and outstanding Industria common shares on that date, bringing its total to 2,115,500 common shares.
As a result of the acquisition and the issuances by Industria, Elemental currently holds 2,115,500 Common Shares representing 10.36% of the 19,210,747 issued and outstanding Common Shares.
Elemental currently does not have any definitive plans or future intentions in relation to Industria, and has purchased the Common Shares for investment purposes.
This Press Release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the applicable securities commissions or similar regulatory authorities in Canada, which report will contain additional information with respect to the foregoing matters (the "Early Warning Report"). Further details regarding this transaction and Industria, including a copy of the Early Warning Report, can be found on SEDAR under Industria's company profile at www.sedar.com.
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to, future plans and intentions of Purchasers, the appointment of certain persons as directors and officers of the Company and associated matters. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, that the plans of the Purchasers may change and directors and officers may not perform their roles as currently expected. The statements in this press release are made as of the date of this release.
SOURCE Elemental Capital Partners LLP
For further information: Elemental Capital Partners LLP, Dr. Fletcher Morgan, 650, MNP Tower, 1021 W. Hastings St., Vancouver, BC V6E 0C3, 604.558.7685