Mr. Steven Dean reports
ARTEMIS ANNOUNCES INCREASE IN OWNERSHIP OF COMMON SHARES OF VELOCITY MINERALS LTD.
Artemis Gold Inc. has acquired 21,211,136 common shares of Velocity Minerals Ltd. at a price of 25 cents per share pursuant to the exercise of a convertible debenture in the principal amount of $5,094,000, along with accrued and unpaid interest of $208,784.
The debentures were originally issued by way of a private placement on March 14, 2019.
Prior to the exercise of the debenture, the company held 29,490,002 shares, and the company's non-diluted shareholdings represented approximately 21.7 per cent of Velocity's issued and outstanding shares on an undiluted basis and 36.7 per cent on a partially diluted basis.
As a result of the exercise of the debenture, the company now holds 50,701,138 shares and 11,883,443 share purchase warrants. The company's shareholdings now represent approximately 32.3 per cent of Velocity's issued and outstanding shares on an undiluted basis and 37 per cent on a partially diluted basis.
The company acquired the shares for investment purposes.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.