Rainy Mountain Royalty (RMO-V) McFaulds Lake player. rmroyalty.com
Oct 30, '15 - NR
Douglas Mason (Promoter) announces that he has acquired 1,012,000 shares of Rainy Mountain Royalty Corp. at a price of $0.06325 per share in connection with 1,000,000 of the Shares, at a price of $0.05 per share in connection with 8,000 of the Shares and at a price of $0.055 per share in connection with 4,000 of the Shares, for total consideration of $63,870. Of the Shares acquired, 1,000,000 were acquired pursuant to a private transaction and 12,000 were acquired through the facilities of the TSX Venture Exchange.
At present, the Offeror owns an aggregate of 3,865,875 common shares of the Company, or approximately 26.83% of the outstanding common shares of the Company. The Offeror also holds warrants for the purchase of an additional 1,800,000 common shares of the Company and stock options for the purchase of an additional 193,500 common shares of the Company. Upon the exercise of these warrants and stock options in full, the Offeror would own a total of 5,859,375 common shares of the Company, or approximately 35.72% of the Company’s then issued and outstanding share capital, assuming no other shares of the Company are issued.
The Offeror has acquired the Shares for investment purposes and may acquire further securities of the Company for investment purposes, in the market or privately, from time to time.
This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by the Offeror in connection with the acquisition of the Shares is available on the Company’s SEDAR profile, and it can also be obtained directly from the Offeror by contacting him at the number shown above.
“Douglas Mason”
Douglas Mason |
