TORONTO, ONTARIO--(Marketwired - May 3, 2016) - Paul Stephens ("Stephens") announces that he has acquired 2,549,000 common shares of Revelo Resources Corp. ("Revelo") (representing approximately 2.54% of the outstanding common shares of Revelo) at an acquisition cost of US$0.04383 per share.
As a result of this acquisition, Stephens currently owns directly or indirectly, an aggregate of 9,874,929 common shares and 2,666,429 common share purchase warrants representing approximately 9.86% of the outstanding common shares and 12.19% assuming full exercise of all of the warrants referenced herein. The common shares were purchased through the facilities of the TSX Venture Exchange. Stephens, as portfolio manager at Stephens Investment Management, LLC, also exercises control or direction over 785,714 common shares and 785,714 common share purchase warrants; and thereby collectively owns, or exercises control or direction over, 10,660,643 common shares and 3,452,143 warrants representing approximately 10.64% of the outstanding common shares and 13.62% assuming full exercise of the warrants.
The common shares were acquired for investment purposes. Stephens has a long-term view of the investment, and Stephens does not intend at this time to acquire additional shares, but may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
A copy of an "Early Warning Report" filed with the applicable Canadian securities regulatory authorities will be available under Revelo's profile at www.sedar.com and may also be obtained by contacting Stephens at (415) 677-5440.
The issuance of this news release is not an admission that an entity named herein owns or controls any described securities or is a joint actor with another named entity.