12:44:23 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Champion Iron Ltd
Symbol CIA
Shares Issued 198,319,784
Close 2016-04-11 C$ 0.195
Market Cap C$ 38,672,358
Recent Sedar Documents

Champion Iron CEO O'Keeffe boosts holdings to 8.62%

2016-04-11 21:37 ET - News Release

Mr. Michael O'Keeffe reports

EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103 IN RELATION TO CHAMPION IRON LIMITED

Michael O'Keeffe, chairman and chief executive officer of Champion Iron Ltd., has acquired an additional interest in Champion.

Pursuant to an offering, on a private placement basis, of an aggregate of 187.5 million ordinary shares of Champion, at a price of 16 cents per share completed as of April 11, 2016, Prospect AG Trading Pty. Ltd., a private company controlled by Mr. O'Keeffe, acquired 21,875,000 shares and was granted options to acquire 7.5 million additional shares at a price of 25 cents per share.

On April 11, 2016, Michael O'Keeffe was granted three million options to acquire shares under Champion's incentive stock option plan.

Immediately before the private placement, Mr. O'Keeffe had beneficial ownership of, or control or direction over, 11,401,930 shares (representing 7,901,930 shares held by Prospect and 3.5 million shares held by WMO Welcome Pty. Ltd.) and two million stock options.

After the completion of the private placement, Mr. O'Keeffe had beneficial ownership of, or control or direction over, 33,276,930 shares (representing 29,776,930 shares held by Prospect and 3.5 million shares held by WMO), 7.5 million compensation options and five million stock options, representing approximately 8.62 per cent of Champion's issued and outstanding shares on a non-diluted basis, and 11.4 per cent of Champion's issued and outstanding shares, assuming exercise and conversion of all the compensation options and options held by Mr. O'Keeffe and Prospect only.

The shares were acquired at a price of 16 cents per share, and the compensation options were granted to Prospect for no consideration in connection with Prospect's commitment to subscribe for a number of shares pursuant to the private placement.

Mr. O'Keeffe acquired the shares for investment purposes. Mr. O'Keeffe and his affiliates may, depending on market and other conditions and subject to applicable securities regulation, change their beneficial ownership of (or control or direction over) the shares, whether in the open market, by privately negotiated agreements or otherwise.

An early warning report in respect of the above-noted transaction will be filed on SEDAR.

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