VANCOUVER, Feb. 9, 2015 /CNW/ - Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on February 9, 2015 he acquired ownership of 12,556,000 units of Dalradian Resources Inc. ("Dalradian") by way of a private placement from treasury in reliance on the accredited investor exemption set out in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions for a purchase price of CDN$0.90 per unit and an aggregate purchase price of CDN$11,300,400. Each unit consists of one common share of Dalradian (a "Unit Share") and one-half of a common share purchase warrant (a "Warrant") of Dalradian. Each Warrant is exercisable into one common share of Dalradian for a period of 24 months from today at an exercise price of CDN$1.15.
The Unit Shares purchased represent approximately 8.1% of the total number of issued and outstanding common shares of Dalradian. As a result of this transaction, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 15,036,500 common shares of Dalradian and 6,278,000 Warrants. Of these securities, 2,480,500 common shares of Dalradian are held by Kestrel Holdings Ltd., a corporation controlled by Mr. Beaty, and the rest are owned by Mr. Beaty personally. If all of the Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 10.9% of the issued and outstanding common shares of Dalradian on a fully diluted basis.
Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Dalradian for investment purposes.
SOURCE Ross J. Beaty
For further information: or to obtain a copy of the subject early warning report, please contact: Ross J. Beaty, 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, Telephone: (604) 684-1175, Facsimile: (604) 684-0147