VANCOUVER, British Columbia, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on December 10, 2018, he acquired ownership of 2,919,140 rights (“Rights”) to acquire common shares (“Common Shares”) in the capital of ValOre Metals Corp. (“ValOre”), a company with a head office at Suite 1020 – 800 West Pender Street, Vancouver, British Columbia V6C 2V6. Mr. Beaty acquired ownership through a rights offering previously announced by ValOre on December 3, 2018.
Prior to the issuance of the Rights on December 10, 2018, Mr. Beaty owned, indirectly through Kestrel Holdings Ltd., or exercised control or direction over 2,945,910 Common Shares and no Rights. The 2,945,910 Common Shares represented approximately 11.91% of the total number of issued and outstanding Common Shares prior to the issuance of the Rights.
After the completion of the issuance of the Rights, Mr. Beaty continues to own, indirectly through Kestrel, or exercise control or direction over, 2,945,910 Common Shares, representing approximately 11.91% of the total number of issued and outstanding Common Shares, resulting in no change to Mr. Beaty’s Common Share holdings on a non-diluted basis. After the completion of the issuance of the Rights, if all of Mr. Beaty’s Rights were exercised, Mr. Beaty would own, indirectly through Kestrel, or exercise control or direction over, approximately 21.22% of the total number of issued and outstanding Common Shares, resulting in an increase of 9.31% to Mr. Beaty’s Common Share holdings on a partially diluted basis.
Mr. Beaty’s acquisition 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 ValOre 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 ValOre 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