GUERNSEY, CHANNEL ISLANDS, July 17, 2018 /CNW/ - Further to the press release of Adventus Zinc Corporation ("Adventus") of July 17, 2018, Greenstone Resources II L.P. ("Greenstone") announces that it has acquired 2,473,533 common shares of Adventus at a price per common share of C$0.90, for aggregate gross proceeds of C$2,226,179.70 (the "Greenstone Subscription"). The Greenstone Subscription was part of a larger private placement by Adventus raising approximately C$9.2 million (the "Private Placement").
Prior to completion of the Greenstone Subscription, Greenstone held 9,994,932 common shares of Adventus, representing approximately 17.6% of its issued and outstanding common shares. As a result of the Greenstone Subscription and the closing of the Private Placement, Greenstone now has ownership of and control over a total of 12,468,465 common shares of Adventus, which continues to represent approximately 17.6% of the issued and outstanding common shares of Adventus.
Greenstone acquired the common shares of Adventus for investment purposes. Depending on market conditions and other factors, Greenstone may, from time to time, acquire and/or dispose of securities of Adventus or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commissions in connection with the transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Matt Hornton or Gordon Purvis at +44 1481 749 700. Greenstone's address is set out below.
Greenstone Resources II L.P.
PO Box 656
Trafalgar Court, Les Banques
St Peter Port, Guernsey
Adventus Zinc Corporation
#550-220 Bay Street
SOURCE Greenstone Resources II L.P.
For further information: Matt Hornton or Gordon Purvis at +44 1481 749 700