Immediately prior to the Disposition, the Corporation had beneficial ownership of, or control and direction over, (i) 7,962,000 Common Shares, representing approximately 8.5% of the number of issued and outstanding Common Shares (being 93,363,189 Common Shares), and (ii) 4,464,250 common share purchase warrants of Generation Mining ("Warrants"), representing, together with the 7,962,000 Common Shares held by the Corporation, approximately 12.7% of the issued and outstanding Common Shares on a partially-diluted basis (i.e., giving effect only to the exercise of the 4,464,250 Warrants held by the Corporation).
Immediately following the Disposition, the Corporation had beneficial ownership of, or control and direction over, (i) 5,848,000 Common Shares, representing approximately 6.3% of the number of issued and outstanding Common Shares (being 93,363,189 Common Shares), and (ii) 4,464,250 Warrants, representing, together with the 5,848,000 Common Shares held by the Corporation, approximately 10.5% of the issued and outstanding Common Shares on a partially-diluted basis (i.e., giving effect only to the exercise of the 4,464,250 Warrants held by the Corporation).
The Corporation disposed of 2,114,500 Common Shares to realize a positive return on its investment in Generation Mining, it intends to review, on a continuous basis, various factors related to its investment in Generation Mining, and may decide to purchase or dispose of additional securities of Generation Mining as future circumstances may dictate.
This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated
For further information on the Corporation please contact:
President & Chief Executive Officer
Telephone: (416) 363-8653
The Corporation's head office is located at
Source:
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