Fox River shareholder boosts holdings to 17.6% 2016-05-20 16:32 ET - News Release
Mr. Stephen Case reports
STEPHEN CASE ACQUIRES ADDITIONAL COMMON SHARES OF FOX RIVER RESOURCES CORPORATION
On May 20, 2016, Stephen D. Case purchased 199,000 common shares of Fox River Resources Corp., representing approximately 0.5 per cent of the currently issued and outstanding common shares of the corporation. The acquired shares were purchased through the facilities of the Canadian Securities Exchange at a price of 4.5 cents per share, for an aggregate purchase price (excluding commissions) of $8,995.
Immediately prior to purchasing the acquired shares, Mr. Case beneficially owned and exercised control or direction over a total of 7,047,000 common shares, representing approximately 17.1 per cent of the outstanding common shares. As of the date hereof, after giving effect to the purchase of the acquired shares, Mr. Case beneficially owns and exercises controls or direction over a total of 7,246,000 common shares, representing approximately 17.6 per cent of the issued and outstanding common shares. This represents an increase of approximately 2.3 per cent above the shareholding percentage reported in the previous early warning news release dated April 20, 2016. Mr. Case also holds options to acquire an additional 800,000 common shares. If the options are exercised, Mr. Case would beneficially own, or exercise control or direction over, 8,046,000 common shares, representing approximately 19.1 per cent of the common shares which would be issued and outstanding following such exercise.
The existing shares were acquired for investment purposes. Mr. Case may, from time to time on an individual or joint basis, acquire additional securities of the corporation, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position. Mr. Case is not party to any agreements, arrangements, commitments or understandings with any person with respect to the common shares, including, but not limited to, the transfer or the voting of any common shares, finders' fees, joint ventures, loan or option arrangements, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.