NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA.
QUEBEC CITY, June 11, 2020 (GLOBE NEWSWIRE) -- Robex Resources Inc. (“Robex” or “the Company”) (TSX-V: RBX / FWX: RB4) announced that Mr. Georges Cohen, Benjamin Cohen and Julien Cohen (collectively, the Optionholders) exercised a total of 8,500,000 stock options on June 10, 2020 (the Operation) at a price ranging from $0.09 to $0.13 per share for a total of 8,500,000 common shares of Robex allocated as follows:
| Number of common shares acquired following exercise of stock options | Price per share | Total (CDN) | |||||
| Georges Cohen | 3,000,000 | $0.09 | $270,000 | ||||
| Benjamin Cohen | 1,250,000 | $0.09 | $112,500 | ||||
| 2,000,000 | $0.13 | $260,000 | |||||
| Julien Cohen | 750,000 | $0.09 | $67,500 | ||||
| 1,500,000 | $0.13 | $195,000 | |||||
| Total : | 8,500,000 | $905,000 | |||||
Prior to the completion of the Operation, the Optionholders owned, directly or indirectly, or exercised control over the following securities of the Company : (i) for Georges Cohen : 289,854,027 common shares and 3,000,000 stock options, (ii) for Benjamin Cohen : 18,077,800 common shares and 3,250,000 stock options, and (iii) for Julien Cohen : 20,267,800 common shares and 2,250,000 stock options.
After the completion of the Operation, the Optionholders owned, directly or indirectly, or exercised control over the following securities of the Company : (i) for Georges Cohen : 292,854,027 common shares which represents approximately 49.74% of the total number of issued and outstanding common shares, (ii) for Benjamin Cohen : 21,327,800 common shares which represents approximately 3.62% of the total number of issued and outstanding common shares, and (iii) for Julien Cohen : 22,877,800 common shares which represents approximately 3.89% of the total number of issued and outstanding common shares.
For more clarity and for transparency purposes, the Optionholders hold, together with other members of the Cohen family, namely Emilie Cohen, Laetitia Cohen and Johan Contat Cohen, a total of 391,293,027 common shares representing 66.46% of the issued and outstanding common shares of Robex. However, these other family members did not hold stock options and have not participated in the Operation disclosed hereunder.
The Optionholders have exercised the stock options and have acquired the underlying common shares for investment purposes and may, from time to time and at any time, increase or decrease their participation in Robex, the whole depending on market conditions and other relevant factors. Neither the Optionholders nor any person acting jointly or in concert with them has currently plans or intentions related to the acquisition or disposition of securities of the Company.
This press release is prepared to meet the requirement of Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with an early warning report (the Early Warning Report).
A copy of the Early Warning Report may be found on SEDAR under the Company’s profil at www.sedar.com or may be obtained by communicating with Mr. Augustin Rousselet at (581) 741-7421.
For more information, please communicate with Mr. Augustin Rousselet, Chief Financial Officer, at the Company’s head office located at: 437 Grande Allée E Bureau 100, Quebec, Quebec G1R 2J5.
The TSX Venture Exchange or its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts no liability for the authenticity or accuracy of this release.
For information:
Robex Resources Inc.
Benjamin Cohen, CEO
Augustin Rousselet, CFO/COO
Head office: (581) 741-7421
info@robexgold.com