Mr. Douwe van Hees of Plethora reports
STICHTING DEPOSITARY PLETHORA PRECIOUS METALS FUND REPORTS EQUITY INTEREST IN LABRADOR GOLD CORP. (TSXV: LAB)
On June 26, 2020, Stichting Depositary Plethora Precious Metals Fund (Plethora) acquired 1.1 million units (hereinafter defined) of Labrador Gold Corp. at 17.5 cents per unit pursuant to a private placement for gross proceeds of $192,500. Each unit acquired consists of one common share in the company and one common share purchase warrant in the company. Each warrant entitles the holder thereof to acquire one share for 30 cents until June 25, 2022.
Prior to this acquisition, Plethora owned or controlled 8,579,000 shares and 1.5 million common share purchase warrants, representing 16.12 per cent of the company's issued and outstanding shares on a partially diluted basis. On an undiluted basis, Plethora's ownership before the acquisition represented 14.05 per cent of the company's issued and outstanding shares. Following the acquisition, Plethora now owns or controls a total of 9,679,000 shares and 2.6 million common share purchase warrants, representing 13.92 per cent of the issued and outstanding shares on a partially diluted basis. On an undiluted basis, Plethora's ownership after the acquisition represents 11.31 per cent of the company's issued and outstanding shares.
In satisfaction of the requirements of National Instrument 62-104 (Takeover Bids and Issuer Bids) and National Instrument 62-103 (The Early Warning System and Related Takeover Bid and Insider Reporting Issues), an early warning report respecting the acquisition of securities by Plethora will be filed under the company's SEDAR profile.
Plethora acquired the units for investment purposes only, and depending on market and other conditions, Plethora may from time to time in the future increase or decrease its ownership, control or direction over securities of the company, through market transactions, private agreements or otherwise.
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