VANCOUVER, British Columbia, Sept. 21, 2018 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on September 20, 2018 14,000,000 common share purchase warrants (“Warrants”) of Savary Gold Corp. (“Savary”) owned by Mr. Beaty expired (the “Expiry”).

Prior to the Expiry, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 31,636,000 common shares in the capital of Savary (the “Common Shares”) and 15,818,000 Warrants. The 31,636,000 Common Shares represented approximately 14.72% of the total number of issued and outstanding Common Shares of Savary. Each Warrant entitled the holder to purchase one Common Share in the capital of Savary at an exercise price of CDN$0.08 per Common Share. If all of Mr. Beaty’s Warrants had been exercised, Mr. Beaty would have owned, directly or indirectly, or exercise control or direction over, approximately 20.56% of the issued and outstanding Common Shares.

After the Expiry, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 31,636,000 Common Shares and 1,818,000 Warrants. The 31,636,000 Common Shares represent approximately 14.72% of the total number of issued and outstanding Common Shares. If all of Mr. Beaty’s Warrants held following the Expiry were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 15.43% of the issued and outstanding Common Shares, a decrease of 5.13% on a partially diluted basis.

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 Savary 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 Savary and other relevant factors.

Mr. Beaty is not currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of Savary.

Mr. Beaty does not own or control any securities of Savary with, nor is Mr. Beaty a joint actor with another entity.

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