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TORONTO, March 29, 2022 (GLOBE NEWSWIRE) — GCM Mining Corp. (“GCM Mining” or the “Company“) (TSX:GCMOTCQX:TPRFF) announced that it filed an early warning report in connection with its acquisition today over the Chi-X Market of an aggregate of 3,430,000 common shares (the “Denarius Shares“) of Denarius Metals Corp. (“Denarius“) (TSXV:DSLVOTCQB:DNRSF). The Denarius Shares were acquired at a price of $0.475 per share for an aggregate purchase price of $1,645,545 and was effected through a block trade.
The 3,430,000 Denarius Shares represent approximately 1.65% of the issued and outstanding shares of Denarius. Prior to the acquisition of the Denarius Shares, GCM Mining held 55,888,889 common shares, representing approximately 26.92% of the issued and outstanding shares of Denarius. After completion of the acquisition, the Acquiror will own or control 59,318,889 common shares of Denarius, representing approximately 28.57% of Denarius’ outstanding common shares.
GCM Mining acquired the Denarius Shares for investment purposes. GCM Mining may increase or decrease its ownership of securities of Denarius, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities. GCM Mining expects to evaluate on an ongoing basis Denarius financial condition, results of operations, business and prospects, the market price of Denarius Shares, conditions in securities markets generally and in the market for shares of companies like Denarius, general economic and industry conditions and other factors GCM Mining deems relevant to its investment decisions. Based on such evaluations, GCM Mining may at any time or from time to time determine to acquire additional shares of Denarius, or securities convertible into or exchangeable for shares of Denarius or derivatives relating to shares, or to dispose of shares or securities conve rtible into or exchangeable for shares …
Full story available on Benzinga.com
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