best news ever Mr. Ross Beaty reports
Ross J. Beaty, of 1550 625 Howe St., Vancouver, B.C., V6C 2T6, on March 23, 2015, acquired ownership of 28 million units of Savary Gold Corp. at a purchase price of five cents per unit for an aggregate purchase price of $1.4-million. Each unit comprises one common share in the capital of the corporation and one-half of one share purchase warrant. Each warrant is exercisable into one common share for a period of 36 months from issuance at an exercise price of eight cents. Mr. Beaty acquired ownership through a private placement transaction in reliance on the accredited investor exemption set out in Section 2.3 of National Instrument 45-106 -- Prospectus and Registration Exemptions.
Mr. Beaty owns 28 million common shares and 14 million warrants. The 28 million common shares represent approximately 19.9 per cent of the total number of issued and outstanding common shares. If all of Mr. Beaty's warrants were exercised, Mr. Beaty would own approximately 27.2 per cent of the then-issued-and-outstanding common shares.
Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Savary Gold for investment purposes