VANCOUVER, British Columbia, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on August 10, 2023, he acquired ownership of 2,500,000 common shares (“Common Shares”) in the authorized share structure of Decade Resources Ltd. (“Decade”), a company with a head office at 426 King Street, Stewart, British Columbia V0T 1W0. Mr. Beaty acquired ownership through the exercise of warrants (“Warrants”) to acquire Common Shares. In addition, Mr. Beaty disposed of 2,500,000 Common Shares through the facilities of the TSX Venture Exchange, for a net acquisition of nil Common Shares (together, the “Transactions”).
Prior to the Transactions, Mr. Beaty owned, directly or indirectly, or exercised control or direction over, 5,000,000 Common Shares and 5,000,000 Warrants. The 5,000,000 Common Shares represented approximately 6.83% of the issued and outstanding Common Shares. If all of Mr. Beaty’s 5,000,000 Warrants were exercised, Mr. Beaty would have owned, directly or indirectly, or exercised control or direction over, approximately 12.78% of the issued and outstanding Common Shares, on a partially diluted basis.
After the Transactions, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 5,000,000 Common Shares and 2,500,000 Warrants. The 5,000,000 Common Shares represent approximately 6.66% of the issued and outstanding Common Shares. If all of Mr. Beaty’s 2,500,000 Warrants are exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 9.59% of the issued and outstanding Common Shares. Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, less than 10% of the issued and outstanding Common Shares.
Mr. Beaty’s acquisitions and dispositions were made for investment purposes. In accordance with applicable securities laws, Mr. Beaty may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Decade in the open market or otherwise, and reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Decade and other relevant factors.
A copy of the Early Warning Report filed under applicable securities laws is available under Decade’s profile on SEDAR (www.sedar.com).
For more information, please contact:
Ross J. Beaty
1550 – 625 Howe Street
Vancouver, British Columbia
V6C 2T6
Telephone: (604) 806-3173
Facsimile: (604) 684-0147
