07:55:20 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Goldcliff Resource Corp (2)
Symbol GCN
Shares Issued 9,850,051
Close 2016-08-24 C$ 0.20
Market Cap C$ 1,970,010
Recent Sedar Documents

Goldcliff president Sanders acquires shares, warrants

2016-08-25 13:39 ET - News Release

Mr. George Sanders reports

SHAREHOLDER EARLY WARNING FILING

In accordance with the requirements of Section 3.1 of National Instrument 62-103, George Sanders, president of Goldcliff Resource Corp., Suite 400, 789 W Pender St., Vancouver, B.C., V6C 1H2, acquired, on Aug. 24, 2016, 1.2 million common shares and 600,000 share purchase warrants by way of a non-brokered private placement. Mr. Sanders now owns or has control of 2,084,000 shares of the issuer, or approximately 16.74 per cent of the current issued and outstanding shares of the issuer.

Mr. Sanders acquired the 1.2 million shares of the issuer at a price of 19 cents per share pursuant to a non-brokered private placement. Immediately prior to the completion of the acquisition, Mr. Sanders held 884,000 common shares, representing approximately 8.97 per cent of the issued and outstanding common shares of the issuer. Prior to the completion of the acquisition, Mr. Sanders also held 200,000 options to purchase common shares and 100,000 share purchase warrants for the purchase of an additional 100,000 common shares of the issuer. Immediately after the completion of the acquisition, Mr. Sanders held 2,084,000 common shares, representing 16.74 per cent of the issued and outstanding common shares of the issuer. Mr. Sanders also holds 200,000 options to purchase common shares and 700,000 share purchase warrants for the purchase of an additional 700,000 common shares of the issuer. Assuming the exercise of the options and share purchase warrants, Mr. Sanders would own a total of 2,984,000 common shares of the issuer, or approximately 22.35 per cent of the issuer's then issued and outstanding share capital, assuming no other common shares of the issuer are issued.

Mr. Sanders acquired the shares for investment purposes and may acquire additional securities or dispose of existing securities of the issuer, in the market or privately, from time to time as circumstances warrant. The securities of Mr. Sanders set out above are held directly and not through control of another entity.

A copy of the early warning report filed by Mr. Sanders in connection with this acquisition is available on SEDAR or by contacting Mr. Sanders at 250-764-8879.

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