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01:08:02 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Cabral Gold Inc
Symbol CBR
Shares Issued 61,659,250
Recent Sedar Documents

Cabral investor Phoenix Gold acquires 8 million shares

2020-07-10 13:26 ET - News Release

Subject: News Release for Dissemination - Phoenix Gold Fund /Cabral Gold Inc. PDF Document File: Attachment PR_2020July10Phoenix.pdf PHOENIX GOLD FUND LIMITED 9, Jalan P Ramlee 50250 Kuala Lumpur, Malaysia Vancouver, British Columbia July 10, 2020 Phoenix Gold Fund Limited ("Phoenix Gold") of Kuala Lumpur, Malaysia, announces it has acquired an aggregate of 8,000,000 common shares of Cabral Gold Inc. (the "Issuer") pursuant to a non-brokered private placement (4,500,000 shares on June 19, 2020 and 3,500,000 shares on July 7, 2020). Phoenix Gold acquired the common shares at a price of $0.125 per share for a total purchase price of $1,000,000. The Issuer's head office is located at Suite 1500 - 409 Granville Street, Vancouver, British Columbia, V6C 1T2. Immediately prior to the acquisition described above, Phoenix Gold owned 4,166,666 common shares of the Issuer, representing 6.76% of the issued and outstanding shares of the Issuer. In addition, Phoenix Gold owned 2,000,000 share purchase warrants. If Phoenix Gold exercised all of its warrants, it would then have owned 6,166,666 common shares of the Issuer, representing 9.69% of the issued and outstanding shares of the Issuer on a partially diluted basis, assuming no further common shares of the Issuer have been issued. As a result of the acquisition described above, Phoenix Gold now owns 12,166,666 common shares of the Issuer, representing 12.79% of the issued and outstanding shares of the Issuer on an undiluted basis. In addition, Phoenix Gold owns 2,000,000 share purchase warrants. If Phoenix Gold exercises all of its warrants, it would own 14,166,666 common shares of the Issuer, representing 14.59% of the issued and outstanding shares of the Issuer on a partially diluted basis, assuming no further common shares of the Issuer have been issued. Phoenix Gold acquired the securities for investment purposes and has no present intention to dispose of securities of the Issuer. Phoenix Gold may, in the future participate in financings and/or acquire or dispose of securities of the Issuer in the market, privately or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities. The disclosure respecting Phoenix Gold's shareholdings contained in this press release is made pursuant to Multilateral Instrument 62-104 and a report respecting the above acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing at www.sedar.com.

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