Is this good news??2022-08-03 14:31 ET - News Release Ms. Lenna Leopoldo reports ST. AUGUSTINE ANNOUNCES PLACEMENT BY QUEENSBERRY St. Augustine Gold and Copper Ltd. major shareholder Queensberry Mining and Development Corp. has subscribed to 82,841,658 common shares of the company at a price of 4.6311119 cents per share. Following completion of this private placement, Queensberry holds 408,678,556 common shares of St. Augustine, representing approximately 48.84 per cent of the issued and outstanding common shares. The shares issued pursuant to this private placement are subject to trading restrictions of four months and a day. The placement is a related party transaction for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on an exemption from the minority approval and formal valuation requirements of MI 61-101 due to the fact that the value of the transaction does not represent greater than 25 per cent of the market capitalization of the company. The company has not filed a material change report 21 days prior to the closing of the placement as no agreement to that effect was in place at that time. About St. Augustine Gold and Copper Ltd. St. Augustine is a Toronto Stock Exchange listed mining company focused on the development of the King-king copper-gold project. The project is one of the largest undeveloped copper-gold deposits in the world and is listed as a top-three priority mining project by the Philippine government.