Mr. Alain Bureau of Metaform reports
METAFORM INVESTMENTS MINING LP ACQUIRES UNITS OF TOACHI MINING INC.
Metaform Investments Mining LP (the acquiror), on April 13, 2018, acquired 3,333,334 units of Toachi Mining Inc., a Canadian mining and resource company, as part of the Toachi's non-brokered private placement announced as of the date hereof. The units were acquired by the acquiror as part of the private placement in which a total of 20 million units were issued by Toachi. Total consideration paid by the acquiror for ownership of its 3,333,334 units was $500,000.10.
Each unit was priced at 15 cents and comprised one common share of Toachi and one-half common share purchase warrant, with each whole warrant entitling the holder to purchase one common share of Toachi at a price of 17 cents within the 24-month period following the closing date of the private placement.
Immediately prior to the closing of the private placement, the acquiror owned or controlled, directly and indirectly through Jonathan Carter Goodman, 10,468,000 common shares, 500,000 warrants and 450,000 options of Toachi, representing 17.11 per cent of the then issued and outstanding common shares, or 18.38 per cent on a partially diluted basis if all of the warrants and options were exercised.
The acquisition of 3,333,334 units increased the acquiror's direct and indirect share ownership or control to 13,801,334 common shares, representing approximately 17.00 per cent of the then issued and outstanding common shares, or 19.60 per cent on a partially diluted basis if all of the acquired warrants and the previously owned warrants and options were exercised.
The acquiror acquired the units for investment purposes only. The acquiror may, from time to time, as market conditions and other circumstances warrant, take such actions in respect of its holdings in securities of the issuer, as it may deem appropriate, in light of the circumstances then existing, including the increase its beneficial ownership, control or direction over Toachi securities through market transactions, private agreements, treasury issuances, exercise of options, convertible securities or otherwise, or the disposition of all or a portion of their securityholdings in the issuer, subject in each case to applicable securities laws and the terms of such securities. The common shares of Toachi are listed on the TSX Venture Exchange under the symbol TIM.
The acquiror is a mining investment holding located at 1 Adelaide St. E, Suite 2100, Toronto, Ont., M5C 2V9, and organized under the laws of Ontario.
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