VANCOUVER, British Columbia, June 02, 2022 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, announced that on May 18, 2022, 8,000,000 warrants (“Warrants”) to acquire common shares (“Common Shares”) in the capital of North Arrow Minerals Inc. (“North Arrow”), a company with a head office at Suite 960 - 789 West Pender Street, Vancouver, British Columbia, V6C 1H2, owned by him, expired unexercised in accordance with their terms (the “Warrant Expiry”).
Prior to the Warrant Expiry, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 11,220,000 Common Shares and 10,470,000 Warrants.
The 11,220,000 Common Shares represented approximately 9.28% of the total number of issued and outstanding Common Shares prior to the Warrant Expiry. If all of Mr. Beaty’s 10,470,000 Warrants were exercised, Mr. Beaty would have owned, directly or indirectly, or exercised control or direction over, approximately 16.51% of the total number of issued and outstanding Common Shares, on a partially diluted basis, prior to the Warrant Expiry.
After the Warrant Expiry, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 11,220,000 Common Shares and 2,470,000 Warrants. The 11,220,000 Common Shares represent approximately 9.28% of the total number of issued and outstanding Common Shares, representing no change since the Warrant Expiry. If all of Mr. Beaty’s 2,470,000 Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 11.10% of the total number of issued and outstanding Common Shares, resulting in a decrease of 5.41% to Mr. Beaty’s Common Share holdings on a partially diluted basis after the Warrant Expiry.
The decision to let the Warrants expired unexercised 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 North Arrow 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 North Arrow 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
