TORONTO, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Northfield Capital Corporation (the “Acquiror”) announces that, together with its joint actor (Mr. Robert Cudney), it has acquired ownership and/or control of 1,350,000 common shares (the “Subject Shares”) of Cypress Hills Resource Corp. (the “Company”), #416, 602 – 11th Avenue SW, Calgary, Alberta T2R 1J8, on September 8, 2020 pursuant to share purchase and sale agreements with an existing shareholder of the Company. The Subject Shares represent approximately 6.76% of all issued and outstanding common shares of the Company as of such date. Of this total, 750,000 common shares were acquired by the Acquiror directly, and 600,000 common shares were acquired by its joint actor.

Immediately before the transaction described above, the Acquiror held an aggregate of 1,400,000 common shares of the Company, representing approximately 7.01% of the issued and outstanding common shares of the Company. Upon completion of the transaction described above, the Acquiror owns and controls an aggregate of 2,150,000 common shares of the Company (the “Owned Shares”), representing approximately 10.77% of the issued and outstanding common shares of the Company as of September 8, 2020 immediately following the transaction described above. 

Immediately before the transaction described above, the Acquiror and its joint actor held an aggregate of 1,900,000 common shares of the Company. Of these totals, 1,400,000 common shares were held by the Acquiror directly, and 500,000 common shares were held by its joint actor, representing approximately 9.52% of the issued and outstanding common shares of the Company. Upon completion of the transaction described above, the Acquiror, together with its joint actor, own and control an aggregate of 3,250,000 common shares of the Company, representing approximately 16.28% of the issued and outstanding common shares of the Company as of September 8, 2020 immediately following the transaction described above.

The holdings of securities of the Company by the Acquiror and its joint actor are managed for investment purposes, and the Acquiror and its joint actor could increase or decrease their investments in the Company at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor. The aggregate consideration payable for the Subject Shares was $67,500.00, calculated as an aggregate of 1,350,000 Subject Shares acquired at a purchase price of $0.05 per share.

The head office of the Acquiror is located at 141 Adelaide Street West, Suite 301, Toronto, Ontario, M5H 3L5.

Additional Information

A copy of the early warning report filed in connection with the matters set forth above may be obtained by contacting:

Michael G. Leskovec, CPA CA
141 Adelaide Street West, Suite 301
Toronto, Ontario  M5H 3L5
Tel: 647-794-4360