Mr. Andrew Thomson, a shareholder, reports
ANDREW THOMSON EARLY WARNING PRESS RELEASE
Andrew Thomson (the acquiror) today filed an early warning report advising that on Nov. 29, 2022, he was granted 125,000 stock options at an exercise price of 11 cents per share of Palamina Corp.
Immediately prior to the effective date, the acquiror had beneficial ownership, or exercised control or direction, both directly and indirectly over (a) 6,038,302 shares; (b) 525,000 options; and (c) 394,000 warrants, representing approximately 9.2 per cent of the outstanding shares of Palamina on an undiluted basis and 10.5 per cent on a partially diluted basis. Following the grant of options, the acquiror has beneficial ownership or exercises direction or control over, directly and indirectly: (a) 6,038,302 shares; (b) 650,000 options and (c) 394,000 warrants, representing approximately 9.2 per cent of the outstanding shares of Palamina on an undiluted basis and 10.7 per cent on a partially diluted basis.
The options were acquired for investment purposes. The acquiror has a long-term view of the investment and may acquire additional shares of the company either on the open market or through private acquisitions or sell the shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
This news release is being issued as required by National Instrument 62-104 -- Take-Over Bids and Issuer Bids and relates to the company, whose head office is located at 145 King St. West, suite 2870, Toronto, Ont., M5H 1J8, and to the acquiror. A copy of the early warning report can be obtained at SEDAR under the company's profile, or by contacting Mr. Thomson at 145 King St. West, suite 2870, Toronto, Ont., M5H 1J8, telephone: 416-204-7536.
© 2023 Canjex Publishing Ltd. All rights reserved.