Mr. Glenn Mullan, a shareholder, reports
PRESS RELEASE
Glenn J. Mullan of Val d'Or, Que., has
acquired two million units of Cleghorn Minerals Ltd. (the issuer), under a private placement
offering by the issuer sold at a price of five cents per unit, each unit comprised
one common share in the capital of the issuer and one non-transferable share purchase warrant,
each warrant entitling the purchase of one common share in the capital of the issuer at a per share
price of eight cents until Jan. 31, 2028. The securities were issued by the issuer from its treasury for
total cash consideration of $100,000. As a result of the issuance to Mr. Mullan by the issuer of the
units under the offering, Mr. Mullan's securityholding percentage of common shares of the issuer
increased by approximately 2.23 per cent; and increased Mr. Mullan's securityholding percentage on a
postconversion beneficial ownership basis by approximately 4.84 per cent.
Immediately before the transaction that triggered the requirement to issue this release, Mr. Mullan
owned, directly and indirectly, an aggregate 9,339,928 common shares of the issuer representing
approximately 27.07 per cent of the issuer's issued and outstanding common shares, and owned options
entitling the purchase of 795,000 common shares of the issuer and owned warrants entitling the
purchase of 1.25 million common shares of the issuer; or, assuming exercise of the options and
conversion of the warrants, Mr. Mullan owned, directly and indirectly, a total of 11,384,928
common shares or approximately 31.15 per cent of the issuer's common shares on a postconversion
beneficial ownership basis.
Immediately after the transaction that triggered the requirement to issue this release, Mr. Mullan
owns, directly and indirectly, an aggregate 11,339,928 common shares of the issuer representing
approximately 29.30 per cent of the issuer's issued and outstanding common shares, and owns options
entitling the purchase of 795,000 common shares of the issuer and owns warrants entitling the
purchase of 3.25 million common shares of the issuer; or, assuming exercise of the options and
conversion of warrants, Mr. Mullan now owns, directly and indirectly, a total of 15,384,928
common shares or approximately 35.99 per cent of the issuer's common shares on a postconversion
beneficial ownership basis.
The securities were acquired for investment purposes by Mr. Mullan and he will evaluate his
investment in the issuer and will increase or decrease his investment by future acquisitions or
dispositions of securities of the issuer at his discretion, as circumstances warrant. As of the date
hereof, Mr. Mullan has no immediate future intention to acquire additional securities of the issuer,
or dispose of securities of the issuer that he owns. Mr. Mullan may, in the future, exercise options
and warrants that he owns and, thus, acquire further common shares in the capital of the issuer.
A report respecting this acquisition will be electronically filed with regulators in Alberta, British
Columbia, Ontario and Quebec, and will be available for viewing through the Internet at SEDAR+ under the issuer's
issuer profile. To obtain a copy of the report, contact Mr. Mullan at 819-824-2808.
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