VANCOUVER, British Columbia, Jan. 09, 2019 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on January 8, 2019, he acquired ownership of 2,919,140 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 the exercise of rights (“Rights”) to acquire Common Shares issued pursuant to a rights offering announced by ValOre on December 11, 2018. In addition, Mr. Beaty disposed of 1,937,000 Common Shares through the facilities of the Toronto Stock Exchange, Chi-X, Chi-X 2, Aequitas Neo Neo Book, Aequitas Neo Lit Book, Pure and TSX Alpha exchanges, for a net acquisition of 982,140 Common Shares (together, the “Share Transactions”).
Prior to the Share Transactions, Mr. Beaty owned, indirectly through Kestrel Holdings Ltd. (“Kestrel”) a corporation controlled by Mr. Beaty, or exercised control or direction over 2,464,410 Common Shares and 2,919,140 Rights. The 2,464,410 Common Shares represented approximately 9.97% of the total number of issued and outstanding Common Shares prior to the Share Transactions on a non-diluted basis. If all of Mr. Beaty’s Rights (and no other Rights) were exercised, Mr. Beaty would have owned, indirectly through Kestrel, or exercised control or direction over, 19.47% of the total issued and outstanding Common Shares on a partially diluted basis.
After the Share Transactions, Mr. Beaty now owns, indirectly through Kestrel, or exercises control or direction over, 3,446,550 Common Shares, representing approximately 7.00% of the total number of issued and outstanding Common Shares, resulting in a decrease in Mr. Beaty’s Common Share holdings on a non-diluted basis of 2.97%.
Mr. Beaty’s acquisitions and dispositions were 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 his 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