(TheNewswire)
VANCOUVER, CANADA – TheNewswire- FEBRUARY 1 8 , 2021 -- This press release is beingdisseminated as required by National Instrument 62 ? 103 in connection with the filing ofan Early Warning Report regarding the acquisition of securities ofGuyana Goldstrike Inc. (the " Company ") (TSXV:GYA)(OTC:GYNAF) .
On February 12, 2021 Gold Mountains Asset ManagementLimited ( GMA ) (the " Acquiror ") purchased (the" Acquisition ") 1,500,000 units of the Company’s private placement (each, a“ Unit ”) at a price of $0.10 per Unit. Each Unit consisted of one common share ofthe Company, and one common share purchase warrant exercisable toacquire an additional common share at a price of $0.15 for a period ofthirty-six months following the close of the Private Placement.
GMA is a wholly-owned subsidiaryof Zijin MiningGroup , and purchased the Units on behalf ofZijin Global Fund .
Immediately prior to the Acquisition, the Acquiror held2,560,000 common shares of the Company representing approximately21.9% of the issued and outstanding shares of the Company. Followingthe Acquisition, the Acquiror held 4,060,000 common shares,representing approximately 16.4% of the issued and outstanding sharesof the Company. Assuming exercise of only the warrants controlled byGMA, it would have control of 5,560,000 common shares of the Company,representing approximately 22.5% of the then issued and outstandingcommon shares of the Company.
The Units were acquired for investment purposes onlyand not for the purpose of exercising control or direction over theCompany. The Acquiror may, from time to time, increase or decrease itsshareholding or continue to hold common shares of the Company as itmay determine appropriate in the normal course of investment activity.In the future, the Acquiror may, directly or indirectly, acquireadditional common shares of the Company or dispose of such sharessubject to a number of factors, including, without limitation, generalmarket and economic conditions and other investment and businessopportunities available.
A copy of the Early Warning Report to be filed by theAcquiror will be available on SEDAR under the Company's profile onwww.sedar.com.
This early warning news release is issued under theearly warning provisions of Canadian securities legislation, includingNational Instrument 62-104 - Take- Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning Systemand Related Take-Over Bid and Insider ReportingIssues .
The TSX Venture Exchange has not reviewed and does notaccept responsibility for the adequacy or accuracy of this pressrelease nor have they approved nor disapproved the contentthereof.
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