VANCOUVER, CANADA – TheNewswire - FEBRUARY 18, 2021 -- This press release is being disseminated as required by National Instrument 62‐103 in connection with the filing of an Early Warning Report regarding the acquisition of securities of Guyana Goldstrike Inc. (the "Company") (TSXV:GYA) (OTC:GYNAF).
On February 12, 2021 Gold Mountains Asset Management Limited (GMA) (the "Acquiror") purchased (the "Acquisition") 1,500,000 units of the Company’s private placement (each, a “Unit”) at a price of $0.10 per Unit. Each Unit consisted of one common share of the Company, and one common share purchase warrant exercisable to acquire an additional common share at a price of $0.15 for a period of thirty-six months following the close of the Private Placement.
GMA is a wholly-owned subsidiary of Zijin Mining Group, and purchased the Units on behalf of Zijin Global Fund.
Immediately prior to the Acquisition, the Acquiror held 2,560,000 common shares of the Company representing approximately 21.9% of the issued and outstanding shares of the Company. Following the Acquisition, the Acquiror held 4,060,000 common shares, representing approximately 16.4% of the issued and outstanding shares of the Company. Assuming exercise of only the warrants controlled by GMA, it would have control of 5,560,000 common shares of the Company, representing approximately 22.5% of the then issued and outstanding common shares of the Company.
The Units were acquired for investment purposes only and not for the purpose of exercising control or direction over the Company. The Acquiror may, from time to time, increase or decrease its shareholding or continue to hold common shares of the Company as it may determine appropriate in the normal course of investment activity. In the future, the Acquiror may, directly or indirectly, acquire additional common shares of the Company or dispose of such shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.
A copy of the Early Warning Report to be filed by the Acquiror will be available on SEDAR under the Company's profile on www.sedar.com.
This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release nor have they approved nor disapproved the content thereof.
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