Mr. Sassy Gold Corp reports
SASSY GOLD CORP. ANNOUNCES A DECREASE IN ITS OWNERSHIP OF THE COMMON SHARES OF MAX POWER MINING CORP.
On March 23, 2023, Sassy Gold Corp. (the acquiror), a shareholder of Max Power Mining Corp., disposed of 575,000 shares of the company at 58 cents per share in the open market and on April 28, 2023, it disposed ownership of 111,000 shares of the company at a price of 61 cents per share in the open market.
On April 28, 2023, the company issued an additional 2.5 million shares, increasing the company's issued and outstanding shares to 43,807,210. As a result of the disposition of 111,000 shares on April 28, 2023, and increase in the issued and outstanding share capital by the company on April 28, 2023, the acquiror decreased its security holdings by over 2 per cent of the issued and outstanding shares of the company.
Prior to the disposition of shares on March 23, 2023, the acquiror held five million shares and one million common share purchase warrants and the acquiror's non-diluted shareholdings represented approximately 12.12 per cent of the company's issued and outstanding shares of 41,257,210.
As a result of the disposition of 111,000 shares on April 28, 2023, and the issuance of 2.5 million shares by the company on April 28, 2023, the acquiror now holds 4,314,000 shares and one million warrants and the acquiror's non-diluted shareholdings now represent approximately 9.85 per cent of the company's issued and outstanding shares.
Thus, on a partially diluted basis (in example, assuming full exercise of all warrants and no other issuances of shares by the company), the acquiror would hold a total of 5,314,000 shares, representing approximately 11.86 per cent of the company's issued and outstanding shares. To obtain a copy of the early warning report filed by the acquiror, please contact the acquiror at 604-737-2303 or refer to the company's SEDAR profile.