21:22:56 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Gatling Exploration Inc
Symbol GTR
Shares Issued 45,670,840
Close 2020-07-24 C$ 0.33
Market Cap C$ 15,071,377
Recent Sedar Documents

Northfield Capital owns 8.5% of Gatling Exploration

2020-07-24 20:41 ET - News Release

See News Release (C-NFD) Northfield Capital Corp

An anonymous director of Northfield Capital reports

EARLY WARNING PRESS RELEASE

Based on information contained in documents publicly filed by Gatling Exploration Inc. (the issuer), Northfield Capital Corp.'s (the acquiror) beneficial ownership of, or control or direction over, common shares in the capital of the issuer has decreased below 10 per cent of the issued and outstanding common shares on a partially diluted basis. Accordingly, following the filing of the early warning report (as defined below), the acquiror will no longer file early warning or insider reports in respect of the acquiror's ownership of the issuer's securities, except as may be required by applicable law. As announced in a news release issued by the issuer dated July 21, 2020, the issuer issued 14.35 million common shares in connection with a private placement that closed on that date. The acquiror was not a party to the transaction and did not acquire or dispose of any securities of the issuer in connection with the transaction.

Immediately before the transaction described above, the acquiror held an aggregate of 5,274,857 common shares of the issuer, representing approximately 11.1 per cent of the issued and outstanding common shares of the issuer. Upon completion of the transaction described above, the acquiror owns and controls an aggregate of 5,274,857 common shares of the issuer, representing approximately 8.5 per cent of the issued and outstanding common shares of the issuer as of July 21, 2020, immediately following the transaction described above.

Immediately before the transaction described above, the acquiror and its joint actor (Robert Cudney) held an aggregate of 5,399,857 common shares of the issuer. Of this total, 5,274,857 common shares were held by the acquiror directly and 125,000 common shares were held by its joint actor, representing approximately 11.3 per cent of the issued and outstanding common shares of the issuer. Upon completion of the transaction described above, the acquiror, together with its joint actor, owns and controls an aggregate of 5,399,857 common shares of the issuer (of which the 5,274,857 owned shares are owned by the acquiror directly and 125,000 common shares are owned by its joint actor), representing approximately 8.7 per cent of the issued and outstanding common shares of the issuer as of July 21, 2020, immediately following the transaction described above.

The acquiror and its joint actor hold the securities of the issuer for investment purposes and may, from time to time, take such actions in respect of their holdings in securities of the issuer as they may deem appropriate in light of the circumstances then existing, including: (i) acquiring, exercising, converting, exchanging, selling or otherwise disposing of securities of the issuer, or securities exercisable for, or convertible or exchangeable into, securities of the issuer; and (ii) developing plans or intentions or taking actions that relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of the early warning report (as defined below).

The acquiror's head office is located at Suite 301, 141 Adelaide St. W, Toronto, Ont., M5H 3L5.

This news release is issued pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires that a report be filed with regulatory authorities in each of the jurisdictions in which the issuer is a reporting issuer containing information with respect to the foregoing matters. A copy of the early warning report will appear with the issuer's filings on SEDAR and may be obtained upon request from Michael G. Leskovec, chief financial officer, Northfield Capital, telephone at 1-647-794-4360. The issuer's head office address is located at Suite 1680, 200 Burrard St., Vancouver, B.C., V6C 3L6.

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