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09:44:56 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Miata Metals Corp (2)
Symbol MMET
Shares Issued 26,535,276
Close 2024-01-26 C$ 0.265
Market Cap C$ 7,031,848
Recent Sedar Documents

Miata investor Karabelas lowers shareholding to 9.57%

2024-01-26 18:45 ET - News Release

Subject: Miata Metals Corp - Leonidas Karabelas Early Warning Report News Release for Dissemination Word Document File: '\\swfile\EmailIn\20240126 153150 Attachment Early Warning Report Press Release (Share and Warrant Transfers)(Leonidas Karabelas) (00038393-3x10671B).docx' {00038393:3} Early Warning Report Issued Pursuant to National Instrument 62-104 for Disposition of Shares and Warrants of Miata Metals Corp. TORONTO, January 26, 2024. On November 13, 15, and 20, 2023, Leonidas Karabelas (the "Acquiror") disposed of 23,000 common shares (the "Shares"), 12,500 Shares and 1,500 Shares, respectively, of Miata Metals Corp. (the "Issuer") at prices ranging from $0.22 to $0.27 per Share for aggregate consideration of $5,825, $2,825 and $345, respectively, through the facilities of the Canadian Securities Exchange (the "Initial Sales"). On January 26, 2024, the Acquiror disposed of an additional 454,500 Shares of the Issuer at a price of $0.0311 per Share for aggregate consideration of $14,134 pursuant to a private share sale transaction (the "Private Share Sale") and 500,000 common share purchase warrants (the "Warrants") of the Issuer for nominal consideration pursuant to a private warrant transfer transaction (the "Warrant Transfer"). Each Warrant entitles the holder to purchase one additional common share of the Issuer at an exercise price of $0.10 per share until November 30, 2027. 450,000 of the Warrants (the "Escrowed Warrants") will remain subject to an NP 46-201F1 escrow agreement dated June 30, 2023 (the "Escrow Agreement") between the Issuer, Odyssey Trust Company as the escrow agent, and certain securityholders of the Issuer. The transfer of such Escrowed Warrants is considered a "Permitted Transfer Within Escrow" in accordance with the requirements of Section 5.1 of the Escrow Agreement. Immediately prior to the Initial Sales, the Acquiror owned and/or had control over an aggregate of 3,030,000 Shares, representing approximately 11.42% of the issued and outstanding Shares of the Issuer on an undiluted basis. In addition, the Acquiror also owned and/or had control over 500,000 Warrants, representing approximately 13.06% of the total issued and outstanding shares of the Issuer on a partially diluted basis. Following completion of the Initial Sale, Private Share Sale and Warrant Transfer, the Acquiror owns or has control or direction over, directly or indirectly, 2,538,500 Shares and nil Warrants, representing approximately 9.57% of the issued and outstanding Shares of the Issuer on an undiluted basis. This represents an approximate 1.85% decrease in the Acquiror's ownership and/or control over common shares of the Issuer on an undiluted basis. This also represents an approximate 3.49% decrease in the Acquiror's ownership and/or control over common shares of the Issuer on a partially diluted basis, noting that the partially diluted basis and undiluted basis percentages are now the same as the Acquiror no longer holds any convertible securities following the Private Share Sale and Warrant Transfer. The Acquiror disposed of the Shares and the Warrants for investment purposes. The Acquiror may acquire additional securities or dispose of securities of the Issuer in the future either on the open market, privately or otherwise depending on market conditions, reformulation of plans, other available investment business opportunities and/or other relevant factors. The disclosure respecting the Acquiror's shareholdings of the Issuer contained in this news release is made pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids. To obtain a copy of the early warning report filed by the Acquiror, please contact the Acquiror at (416) 543-3120 or refer to the Issuer's SEDAR+ profile at www.sedarplus.ca.

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