Southstone Minerals Ltd V.SML

Whoops: aggregate sum of C$723,021 will (ALSO) be forgiven.

[GoodOutlook2015]

As consideration for the acquisition of the Company’s 74% interest in the Kwena Group, KG has agreed to return for cancellation an aggregate of 39,988,160 Common Shares (the "Payment Shares") at a deemed price of C$0.05 per share, collectively held by the Kevin Gallagher and Affiliates for aggregate consideration of C$1,999,508. In addition, outstanding indebtedness owed to the Kwena Group from the Company and its subsidiaries in the aggregate sum of C$723,021 will be forgiven.

From "Management information circular - English" on SEDAR

KG and the Affiliates listed below own an aggregate of 39,988,160 (approximately 17.1%) of the issued and outstanding 232,602,139 Common Shares on a non-diluted basis, which are held as follows:

Name of Shareholder

Total Number of Common Shares Held

Kevin Gallagher 14,566,160
Hugo Pretorius 8,894,000
Theodor Boshoff 7,528,000
Justin Gallagher 4,000,000
Jason Gallagher 4,000,000
Mark Gallagher 500,000
Simon Van Der Loo 500,000
Total 39,988,160 


https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00031079