VANCOUVER, Aug. 29, 2017 /CNW/ - Pacific Topaz Resources Ltd. (TSXV – PPZ.H) (the "Company or Issuer") has been advised that Gordon Keep, disposed of 100,000 common shares of Pacific Topaz Resources Ltd. in the public market representing 0.82% of the issued and outstanding common shares of the Issuer.
As a result of the disposition of securities described above, Gordon Keep, holds in aggregate 755,783 common shares of the Issuer, representing 6.20% of the current issued and outstanding common shares of Pacific Topaz, and would own 1,205,783 common shares, which, assuming no other shares of Pacific Topaz were issued, would represent 9.54% of the then-issued and outstanding shares of Pacific Topaz on a partially diluted basis, assuming exercise of the 450,000 options (175,000 options held by Gordon Keep, 240,000 options held by Fiore Management & Advisory Corp., a company that Mr. Keep owns and controls and 35,000 options held by Kinder Dream Foundation, a charitable organization controlled by Gordon Keep). Prior to the disposition, Mr. Keep held 855,783 common shares, representing 7.02% of the current issued and outstanding shares and would have owned 1,305,783 common shares, representing 10.33% of the then issued and outstanding common shares on a partially diluted basis assuming the exercise of the 450,000 options.
Mr. Keep and his related entities are no longer deemed a 10% holder and will not be required to complete any further regulatory filings except for normal SEDI filings as the CEO of the Company's management company pursuant to NI 55-104 1.1(f).
The Company has been advised that Mr. Keep 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. A copy of the Early Warning Report may be obtained by contacting the Company's President and CEO at the phone number noted below.
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