(MENAFN- Newsfile Corp)
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Beedie Investments Ltd. (the " Acquiror ") announced that it has acquired 11,111,111 common shares (the " Common Shares ") of Artemis Gold Inc. (the " Company ") pursuant to a warrant exercise at $1.08 per share (the " Transaction ").
Prior to the Transaction, the Acquiror, together with its joint actors, owned and controlled (i) 56,618,973 Common Shares, (ii) 11,111,111 Warrants exercisable into a further 11,111,111 Common Shares, (iii) options (the "Options") to acquire an additional 378,000 Common Shares and (iv) 11,000 deferred stock units (the "DSUs") representing the right to receive 11,000 Common Shares. Assuming the exercise in full of the Warrants, Options, and DSUs, the Acquiror, together with its joint actors, would beneficially own a total of 68,119,084 Common Shares, representing approximately 31.54% of the issued and outstanding Common Shares after giving effect to such exercises.
Subsequent to the Transaction, the Acquiror, together with its joint actors, owned and controlled (i) 67,730,084 Common Shares, (ii) 378,000 Options, and (iii) 11,000 DSUs. Assuming the exercise in full of the Options and DSUs, the Acquiror, together with its joint actors, would beneficially own a total of 68,119,084 Common Shares of the Company, representing approximately 31.54% of the issued and outstanding Common Shares after giving effect to such exercises.
All of the securities held by the Acquiror in the Company are being held for investment purposes. The Acquiror may in the future take such actions in respect of its Company securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of the Company through open market purchases or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation, involving the Company, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or the Acquiror may continue to hold its current positions.
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