UTRECHT, Netherlands, Oct. 09, 2020 (GLOBE NEWSWIRE) — Stichting Depositary Plethora Precious Metals Fund (“ Plethora ”) announces that on October 07, 2020 it has disposed of 2,000,000 common shares of Labrador Gold Corp. (the “ Company ”) at $0.38 CAD per common share, through the facilities of the TSX Venture Exchange, for gross proceeds of $760,000 CAD (the “ Transaction ”).
Prior to the Transaction, Plethora owned or controlled 9,463,000 common shares and 2,600,000 common share purchase warrants representing 12.58% of the Company’s issued and outstanding common shares on a partially diluted basis. On an undiluted basis, Plethora’s ownership before the Transaction represented 10.14% of the Company’s issued and outstanding common shares. Following the Transaction, Plethora now owns or controls an aggregate 7,463,000 common shares, and 2,600,000 common share purchase warrants, representing 10.49% of the issued and outstanding common shares on a partially diluted basis. On an undiluted basis, Plethora’s ownership after the Acquisition represents 8.00% of the Company’s issued and outstanding common shares.
In satisfaction of the requirements of National Instrument 62-104 – Take-Over Bids a nd Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an early warning report respecting the acquisition of securities by Plethora will be filed under the Company’s SEDAR Profile at www.sedar.com .
The Transaction was completed for investment purposes. Depending on market and other conditions, Plethora may from time to time in the future increase or decrease their ownership, control or direction over securities of the Company, through market transactions, private agreements, or otherwise.
Plethora is incorporated under the laws of the Netherlands and its head office is located at Prins Hendriklaan 26, 1075HD, Amsterdam, Netherlands. The principal business of Plethora is a Management Fund.