Lionsgate buys more sharesI hope they know something that we don't ....
Lions Bay acquires 1.05 M units of Fidelity Minerals
2021-04-16 19:29 ET - News Release
See News Release (C-LBI) Lions Bay Capital Inc
An anonymous director reports
LIONS BAY CAPITAL INC. -EARLY WARNING REPORT
On April 16, 2021, Lions Bay Capital Inc. acquired ownership of an additional 1,056,000 units of Fidelity Minerals Corp. at a price of 12.5 cents per unit for aggregate consideration of $132,000, pursuant to a non-brokered private placement. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of 15 cents per share until April 16, 2023.
Prior to the acquisition, the acquiror owned an aggregate of 23,010,311 common shares of the issuer, representing approximately 46.11 per cent of the issued and outstanding common shares of the issuer on an undiluted basis. As a result of the acquisition, the acquiror owns a total of 24,066,311 common shares of the issuer, representing approximately 40.24 per cent of the issued and outstanding common shares of the issuer on an undiluted basis. The acquiror also owns warrants exercisable to acquire up to 13,471,583 common shares of the issuer. If the acquiror was to exercise all of its warrants, it would then own 37,537,894 common shares of the issuer, representing approximately 51.23 per cent of the issued and outstanding shares of the issuer on a partially diluted basis, assuming that no further common shares of the issuer have been issued.
"We are very excited by the potential of the gold properties held by Fidelity. Lions Bay has been instrumental in the restructuring and strengthening of Fidelity's balance sheet. There is no doubt in our view, that two of the properties, Las Huaquillas and Las Brujas, are world class, tier one epithermal gold and porphyry targets," stated Mr. John Byrne, the executive chairman of Lions Bay.
The securities acquired by the acquiror will be held for investment purposes. The acquiror may, depending on market and other conditions, increase or decrease its beneficial ownership of the issuer's securities, 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.