15:37:31 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Altair Resources Inc
Symbol AVX
Shares Issued 49,861,501
Close 2017-11-20 C$ 0.11
Market Cap C$ 5,484,765
Recent Sedar Documents

Altair investor Dhanani acquires 4.1 million shares

2017-11-20 19:34 ET - News Release

Mr. Zahir Dhanani, an investor, reports

ZAHIR DHANANI ACQUIRES 4.1 MILLION SHARES OF ALTAIR RESOURCES INC.

Zahir Dhanani, of 1411 Bramwell Rd., West Vancouver, B.C., V7S 2N8, on Nov. 8, 2017, acquired ownership and control over a total of 4.1 million common shares of Altair Resources Inc. at a price of 12.5 cents per share in a private transaction.

The 4.1 million shares acquired by the acquiror represent approximately 8.2 per cent of the total issued and outstanding shares of Altair. Based on the 49,861,501 shares outstanding in the capital of Altair, the percentage of shares owned by the acquiror increased from approximately 4.1 per cent of the issued and outstanding to approximately 8.2 per cent or, assuming the exercise of 1,779,333 warrants held by the acquiror, will increase from 7.4 per cent to 15.4 per cent.

Prior to the completion of the private transaction, the acquiror previously held 2,156,484 shares and 1,779,333 warrants to purchase 1,779,333 shares of Altair, representing approximately 4.1 per cent of the outstanding shares of Altair or 7.6 per cent after assuming exercise of the warrants.

Prior to the completion of the private transaction, Maleksultan Dhanani, the mother of Mr. Dhanani, of 1411 Bramwell R., West Vancouver, B.C., V7S 2N8, held 1,876,833 shares and 1,733,333 warrants to purchase 1,733,333 shares of Altair, representing approximately 3.7 per cent of the outstanding shares of Altair or 6.9 per cent after assuming exercise of the warrants.

After completion of the private transaction, the acquiror and Mrs. Dhanani hold 8,033,317 shares of Altair, representing approximately 16.11 per cent of the outstanding shares of Altair or 21.6 per cent assuming exercise of the warrants.

Mr. Dhanani acquired the shares for investment purposes and may in the future increase or decrease his ownership of securities of Altair from time to time depending upon the business and prospects of Altair and future market conditions.

A copy of the early warning report filed by the acquiror in connection with this acquisition is available on SEDAR under the profile of Altair or by contacting Mr. Dhanani at 604-685-9316.

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