Japan Gold Corp (C-JG) - SEDAR Early Warning ReportNot saying to buy or sell..
GLTA JG share holders..
On March 6, 2020, Southern Arc acquired 500,000 Warrants pursuant to a loan agreement. Each Warrant is exercisable by Southern Arc into one Japan Gold Share at an exercise price of $0.40 per Japan Gold Share until March 9, 2021. 2 Pursuant to the last early warning report filed on August 9, 2017 by Southern Arc respecting securities of Japan Gold, Southern Arc owned 36,250,000 Japan Gold Shares, representing 53.08% of the total issued and outstanding common shares of Japan Gold on an undiluted basis at that time. In addition, Southern Arc also owned 12,500,000 Warrants, which if exercised, would have represented 60.34% of the issued and outstanding common shares of Japan Gold on a partially diluted basis at that time. As a result of issuer actions by Japan Gold, Southern Arc’s securityholding percentage of Japan Gold’s issued and outstanding shares has decreased since filing of the last early warning report. The decrease arose from an increase in outstanding Japan Gold Shares that occurred as a result of treasury issuances by Japan Gold. Immediately prior to the acquisition described in Item 2.2 above, Southern Arc owned 36,250,000 Japan Gold Shares, representing 25.87% of Japan Gold’s issued and outstanding shares on an undiluted basis. In addition, Southern Arc owned 13,324,100 Warrants, representing 32.31% of Japan Gold’s issued and outstanding shares on a partially diluted basis. As a result of the acquisition described in Item 2.2 above, Southern Arc now owns 36,250,000 Japan Gold Shares, representing 25.87% of Japan Gold’s issued and outstanding shares on an undiluted basis. In addition, Southern Arc now owns 13,824,100 Warrants, representing 32.53% of Japan Gold’s issued and outstanding shares on a partially diluted basis, assuming exercise of all of the Warrants held by Southern Arc and no further Japan Gold Shares have been issue.