St Augustine Gold and Copper Ltd T.SAU

I think this is good news???

[Bandmanblues2]

St Augustine Gold and Copper Ltd Symbol SAU Shares Issued 726,758,334 Close 2021-04-01 C$ 0.075 Recent Sedar Documents View Original Document St. Augustine investor acquires 70.17 million shares 2021-04-05 16:13 ET - News Release Mr. Manuel Paolo Villar of Queensberry Mining reports QUEENSBERRY MINING AND DEVELOPMENT CORP. ACQUIRES ADDITIONAL SHARES OF ST. AUGUSTINE GOLD AND COPPER LIMITED On April 5, 2021, Queensberry Mining and Development Corp. acquired 70,176,859 common shares of St. Augustine Gold and Copper Ltd. The shares were acquired upon the conversion of approximately $3,232,167.25 ($2,554,265.25 (U.S.)) of debt owed by the company to Queensberry at a deemed price of 4.6057 cents per share. Queensberry acquired 70,176,859 shares representing approximately 9.65 per cent of the issued and outstanding shares (on a non-diluted basis). Immediately prior to the debt conversion, Queensberry owned 218.5 million shares (representing approximately 30.07 per cent of the issued and outstanding shares). Immediately following the debt conversion, Queensberry owns 288,676,859 shares (representing approximately 36.22 per cent of the issued and outstanding shares. Queensberry's president and chief executive officer, Manuel Paolo A. Villar, personally has ownership and control over an additional 218,500 shares (approximately 0.03 per cent of the issued and outstanding shares). The shares were acquired as part of the debt conversion at a deemed price of 4.6057 cents per share for an aggregate price of $3,232,167.25. Queensberry holds shares in the company for investment purposes and may, from time to time, depending on market and other conditions, increase or decrease its holdings of shares or other securities of the company through market transactions, private agreements, treasury issuances or otherwise. 2021 Canjex Publishing Ltd. All rights reserved. Mobile Old Site Home Daily Products Help Contact Us Your Account System Status GO AD FREE! Subscribe to Stockwatch *** Free 30-Day Trial *** Sign up for FREE Stockwatch Articles by email Read Stockwatch Daily Front Page News ANYTIME FOR FREE Advertise with us 2021 Canjex Publishing Ltd. All rights reserved. "Stockwatch" is a registered trademark of Canjex Publishing Ltd. Terms of Use, Privacy Policy Close Ad

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[Robert1]

Normally dilution is a big negative.  But given the timing (i.e. when the PH govt is desperate to shore up their hurting economy by, maybe just maybe, allowing open pit mining) this could be a hint that the ban will be lifted.   The Villars would know well in advance and this conversion lets then benefit large from any upside. The fact that the stock didn't sell of much with the

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