Kennady investor Bottin acquires 130,000 shares ? WHY ??????
Kennady investor Bottin acquires 130,000 shares
2017-08-14 14:50 ET - News Release
Mr. Dermot Desmond of Bottin reports
BOTTIN (INTERNATIONAL) INVESTMENTS LTD. ANNOUNCES FURTHER INVESTMENT IN KENNADY DIAMONDS INC.
Bottin (International) Investments Ltd. has acquired an aggregate of 1,139,900 common shares of Kennady Diamonds Inc. since May 17, 2017, for aggregate consideration of $3,987,691. The acquisitions have been made in several transactions on the TSX Venture Exchange on different dates since May 17, the date of the last early warning report filed by Bottin.
The aggregate purchases since May 17, 2017, represent approximately 2.24 per cent of the 50,867,933 issued and outstanding shares of Kennady. Bottin, together with its ultimate beneficial owner Dermot Desmond, is required under National Instrument 62-103 -- the early warning system and related takeover bid and insider reporting issues -- to issue a news release and file an early warning report for each 2-per-cent change in its ownership of common shares of Kennady since the filing of its last report.
The shares have been acquired for investment purposes. Bottin is a private limited company based in Gibraltar. Mr. Desmond is the ultimate beneficial owner of Bottin.
On May 17, 2017, Bottin and Mr. Desmond together held 12,826,468 shares of Kennady, representing 25.3 per cent of the 50,775,266 issued and outstanding common shares of Kennady. Following the purchase of 130,000 common shares of Kennady on the TSX Venture Exchange on Aug. 9 and Aug. 10, 2017, Mr. Desmond and Bottin together hold 13,966,368 common shares of Kennady, representing approximately 27.46 per cent of the 50,867,933 issued and outstanding common shares of Kennady.
Bottin has filed an early warning report on SEDAR. A copy of the report may be obtained from Jaime Knight at 011-350-200-79000.
About Kennady Diamonds Inc.
Kennady Diamonds controls 100 per cent of the Kennady North diamond project located in Canada's Northwest Territories.
© 2017 Canjex Publishing Ltd. All rights reserved.