VANCOUVER, Dec. 20, 2017 /CNW/ - Golden Secret Ventures Ltd. (the "Company") (TSXV:GGS) has been advised of recent transactions by Frank Giustra and his related entities pursuant to the early warning requirements of applicable securities laws in Canada with respect to his security holdings in the Company.
Pursuant to the exercise of 2,000,000 share purchase warrants, Frank Giustra acquired 500,000 common shares of the Company and donated 1,500,000 common shares to a charitable organization.
Prior to this transaction, Mr. Giustra held, directly and indirectly and exercised control over, an aggregate of 3,665,000 common shares representing 12.51% of the issued and outstanding shares of the Company and would hold, directly and indirectly and exercise control over, 5,715,000 common shares representing 18.23% of the issued and outstanding shares on a partially diluted basis assuming the exercise of 2,000,000 share purchase warrants and 50,000 stock options. Immediately after this transaction, Mr. Giustra holds, directly and indirectly and exercises control over, an aggregate of 4,165,000 common shares representing 13.31% of the issued and outstanding common shares of the Company and would hold, directly and indirectly and exercise control over, 4,215,000 common shares representing 13.45% of the issued and outstanding shares on a partially diluted basis assuming the exercise of 50,000 stock options.
Mr. Giustra and his related entities acquired these securities for investment purposes and, as disclosed in the Early Warning Report filed on SEDAR, Mr. Giustra and his related entities may, in the future, acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant.
For additional information, or for a copy of the Early Warning Report filed in respect of the above transaction, please contact the Corporate Secretary of the Company at (604) 609-6125.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN SECRET VENTURES LTD.
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 release.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements except as required by law.
SOURCE Golden Secret Ventures Ltd.
For further information: Joanna Vastardis, CFO & Corporate Secretary, Tel: (604) 609-6125