VANCOUVER, British Columbia, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on November 27, 2018, he acquired ownership of 10,086,000 Common Shares (“Common Shares”) in the capital of Lumina Gold Corp. (“Lumina”), a company with a head office at Suite 410 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, at a purchase price of CDN$0.56 per Common Share for an aggregate purchase price of CDN$5,648,160. Mr. Beaty acquired ownership through a private placement transaction (the “Private Placement”) previously announced by Lumina on November 5, 2018.
Prior to the closing of the Private Placement, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 43,034,169 Common Shares and 825,000 stock options that have vested or will vest in the next 60 days (“Options”), each Option entitling the holder to purchase one Common Share.
The 43,034,169 Common Shares represented approximately 15.72% of the total number of issued and outstanding Common Shares prior to the Private Placement. If all of the Options were exercised, Mr. Beaty would have owned, directly or indirectly, or exercise control or direction over, approximately 15.97% of the total number of issued and outstanding Common Shares, on a partially diluted basis prior to the Private Placement.
After the completion of the Private Placement, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 53,120,169 Common Shares. The 53,120,169 Common Shares represent approximately 17.16% of the total number of issued and outstanding Common Shares, resulting in a 1.44% change to Mr. Beaty’s Common Share holdings. If all of the Options were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 17.38% of the total number of issued and outstanding Common Shares, resulting in an increase of 1.41% to Mr. Beaty’s Common Share holdings on a partially diluted basis after the completion of the Private Placement.
Mr. Beaty’s acquisition was 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 Lumina in the open market or otherwise, and reserves the right to dispose of any or all of its 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 Lumina and other relevant factors.
For more information, or to obtain a copy of the subject early warning report, please contact:
Ross J. Beaty
1550 – 625 Howe Street
Vancouver, British Columbia
V6C 2T6
Telephone: (604) 806-3173
Facsimile: (604) 684-0147