Mr. Daniel Fidock, a shareholder, reports
EARLY WARNING REPORT - DANIEL FIDOCK - PROPHECY DEVELOPMENT
Daniel Fidock has acquired 321,428 units of Prophecy Development Corp., each unit composed of one common share of the company and one share purchase warrant, through a private placement on July 6, 2018.
Immediately before the closing of the private placement, Mr. Fidock owned and exercised control over 315,000 shares, representing approximately 4.21 per cent of the issued and outstanding shares at that time, or 483,125 shares, assuming exercise in full of the 165,000 warrants (exercisable into 165,000 shares) and 3,125 options (exercisable into 3,125 shares) then held by Mr. Fidock, representing an interest of approximately 6.32 per cent of the outstanding shares on a partially diluted basis.
Immediately after the closing of the private placement, Mr. Fidock beneficially owned and exercised control over an aggregate of 636,428 shares, representing an interest of approximately 8.10 per cent of the current issued and outstanding shares, or 1,125,981 shares assuming exercise in full of the 486,428 warrants (exercisable into 486,428 shares) and 3,125 options (exercisable into 3,125 shares) held by Mr. Fidock, representing an interest of approximately 13.48 per cent of the outstanding shares on a partially diluted basis.
The securities were acquired by Mr. Fidock for investment purposes only.
Mr. Fidock intends to evaluate his investment in the company and to increase or decrease his shareholdings as circumstances require, depending on market conditions and other factors, through market transactions, private agreements or otherwise.
This news release is being issued in accordance with National Instrument 62-103 (the Early Warning System and Related Take-Over Bid and Insider Reporting Issues).
A copy of the early warning report pursuant to NI 62-103 required to be filed with the applicable securities commissions in connection with the acquisition of the units described in this news release will be available for viewing under the company's profile at SEDAR. A copy of the early warning report can also be obtained by contacting Mr. Fidock at 011-65-9724-1930.
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