VANCOUVER, March 23, 2017 /CNW/ - Pacific Topaz Resources Ltd. (TSXV – PPZ.H) (the "Company or Issuer") has been advised that Radcliffe Corporation, a company owned and controlled by Frank Giustra, disposed of 570,000 common shares of Pacific Topaz Resources Ltd. in the public market representing 4.67% of the issued and outstanding common shares of the Issuer.
As a result of the disposition of securities described above, Radcliffe Foundation, a charitable organization controlled by Frank Giustra and Radcliffe Corporation, hold in aggregate 1,142,000 common shares of the Issuer, representing 9.36% of the current issued and outstanding common shares of the Issuer. Frank Giustra and his related entities are no longer deemed a 10% holder and will not be required to complete any further regulatory filings.
The Company has been advised that Mr. Giustra and his related entities disposed of these securities for investment purposes and as disclosed in the Early Warning Report to be filed in conjunction with this news release, may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.
ON BEHALF OF THE BOARD OF DIRECTORS
OF PACIFIC TOPAZ RESOURCES LTD.
President & CEO
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.
SOURCE Pacific Topaz Resources Ltd.
For further information: Michael Kennedy, President & CEO, Tel: (604) 609-6110