TORONTO, Nov. 03, 2019 (GLOBE NEWSWIRE) -- Rob McEwen announces that between Oct 24, 2019 and Nov 1, 2019 Evanachan Limited (“Evanachan”) sold 459,400 shares of Great Bear Resources Ltd. (“GBR”) of 1020-800 West Pender Street, Vancouver, BC, V6C 2V6 for an aggregate gross proceeds of $3,243,000.
Prior to the sales, Evanachan beneficially owned 3,144,746 shares and 1,572,373 warrants of GBR, representing approximately 7.6% of the outstanding common shares on a non-diluted basis and approximately 10.9% on a partially diluted basis assuming the exercise of all warrants.
As a result of the sales, Evanachan now beneficially owns 2,685,346 shares and 1,572,373 warrants of GBR, representing approximately 6.5% of the outstanding common shares on a non-diluted basis and approximately 9.9% on a partially diluted basis assuming the exercise of all warrants.
The sales by Evanachan resulted in a partially diluted beneficial ownership of less than 10% necessitating the filing of an early warning report.
The remaining securities described herein are held for investment purposes, Evanachan may from time to time and at any time, acquire common shares of GBR in the open market or dispose of any or all of its securities in the open market or otherwise, depending on market conditions, the business and prospects of GBR and other relevant factors. Evanachan is an Ontario incorporated company, whose principal business is resource sector investment.
A copy of the early warning report filed in connection with the offering will be made available on SEDAR (www.sedar.com).
FOR FURTHER INFORMATION PLEASE CONTACT:
Stefan Spears
Evanachan Limited and McEwen Mining Inc.
150 King St. West Suite 2800
Toronto, Ontario
(647) 258-0395 x280