TORONTO, April 29, 2015 /CNW/ - Royal Capital Management Corp. (the "Corporation") has acquired ownership and control of an additional 2,000,000 common shares (the "Common Shares") of Ikkuma Resources Corp. ("Ikkuma"), representing approximately 2.50% of the 80,158,766 common shares of Ikkuma currently issued and outstanding. After giving effect to this acquisition, the Corporation now holds 9,918,900 common shares of Ikkuma, representing approximately 12.37% of the 80,158,766 common shares of Ikkuma currently issued and outstanding.
The acquisition of the Common Shares was completed through the facilities of the Canadian Securities Exchange at purchase price of $0.83 per Common Share in respect of 2,000,000 Common Shares.
The Corporation acquired the Common Shares in order to increase its ownership interest in Ikkuma for investment purposes. The Corporation may from time to time increase or decrease its beneficial ownership, control or direction over the securities of Ikkuma.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed under Ikkuma's profile on SEDAR at www.sedar.com containing additional information respecting the above matters.
Royal Capital Management Corp. is a private Canadian corporation, which actively invests in Canadian securities.
Except as set forth herein, the issuance of this news release is not an admission that an entity or individual named herein owns or controls any described securities or is a joint actor with another named entity or individual.
SOURCE Royal Capital Management Corp.
For further information: For further information or questions, or for a copy of the related early warning report required under Canadian securities legislation, a copy of which has also been filed on Ikkuma's profile on SEDAR at www.sedar.com, please contact: Mark Shoom at Royal Capital Management Corp., 504-4100 Yonge St., Toronto, Ontario, M2P 2G2 or at (416) 226-9922 or [email protected]