Stichting Depositary Plethora Precious Metals Fund Reports Early Warning Report in respect of Bitterroot Resources Ltd. (TSXV: BTT)
April 04 2022 - 4:07PM
Stichting Depositary Plethora Precious Metals Fund
(“
Plethora”) announces that on March 31, 2022 it
has acquired, by way of private placement, 5,000,000 Units of
Bitterroot Resources Ltd. (the “
Company”) at a
price of $0.10 CAD per Unit, for gross proceeds of $500,000 CAD
(the “
Transaction”). Each Unit
consists of one common share (a “
Share”) and
one-half of one common share purchase warrant (each whole common
share purchase warrant, a “
Warrant”) of the
Company. Each whole Warrant is exercisable into a Share at a price
of CAD $0.20 expiring on March 31, 2024. The Transaction resulted
in the acquisition of more than 20% of the issued and outstanding
common shares of the Company by Plethora.
Prior to the Transaction, Plethora owned
8,600,000 Shares of the Company and 4,200,000 Warrants of the
Company, representing 10.69% and 15.12% of the Company’s issued and
outstanding common shares on an undiluted and partially diluted
basis respectively. Following the Transaction, Plethora now owns or
controls an aggregate 13,600,000 common shares, and 6,700,000
common share purchase warrants, representing 21.32% of the
Company’s issued and outstanding common shares on a partially
diluted basis. On an undiluted basis, Plethora’s ownership after
the Transaction represents 15.36% of the Company’s issued and
outstanding common shares.
In satisfaction of the requirements of National
Instrument 62-104 – Take-Over Bids and Issuer Bids and National
Instrument 62-103 – The Early Warning System and Related Take-Over
Bid and Insider Reporting Issues, an early warning report
respecting the acquisition of securities by Plethora will be filed
under the Company’s SEDAR Profile at www.sedar.com.
The Transaction was completed for investment
purposes. Depending on market and other conditions, Plethora may
from time to time in the future increase or decrease their
ownership, control or direction over securities of the Company,
through market transactions, private agreements, or otherwise.
Plethora is incorporated under the laws of the
Netherlands and its head office is located at Prins Hendriklaan 26,
1075HD, Amsterdam, Netherlands. The principal business of Plethora
is a Management Fund.
For information, please contact:
Douwe van Hees- Fund ManagerPrins Hendriklaan 261075HD,
AmsterdamNetherlandsPhone: +3 16 14 51 46 92
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein.
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