IDM Mining now holds 24.4% of StrikePoint shares
IDM Mining now holds 24.4% of StrikePoint shares
2017-03-29 19:01 ET - News Release
See News Release (C-IDM) IDM Mining Ltd
Mr. Robert McLeod of IDM Mining reports
IDM MINING LTD.: EARLY WARNING RELEASE
Further to the press release of IDM Mining Ltd. dated March 28, 2017, IDM has acquired 10.5 million common shares of StrikePoint Gold Inc. valued at 38.5 cents per share as partial consideration for the sale of its portfolio of properties located in the Yukon to StrikePoint.
Immediately prior to the closing of the Transaction, IDM did not own or have control or direction over any common shares of StrikePoint. After giving effect to the Transaction, IDM now owns and exercises control over a total of 10,500,000 common shares of StrikePoint, representing approximately 24.4% of the issued and outstanding common shares of StrikePoint.
IDM's decision to enter into and complete the Transaction was made in connection with its decision to dispose of its portfolio of properties in the Yukon. IDM will continue to review its investment alternatives from time to time and may determine to increase or decrease its equity ownership in StrikePoint through the acquisition or sale of additional outstanding common shares or other securities of StrikePoint through open market or privately negotiated transactions in accordance with applicable securities laws.
The Company's head office is located at Suite 1500, 409 Granville Street, Vancouver, B.C., V6C 1T2. StrikePoint's head office is located at Suite 507, 837 West Hastings Street, Vancouver, B.C., V6C 3N6.