Toronto, Ontario (FSCwire) - Donald K. Johnson, an insider of Murchison
Minerals Ltd. (CSE: MUR) (the “Issuer”), today announced the acquisition of an aggregate of 2,548,500 common
shares of the Issuer pursuant to two private agreements. 2,368,500 common shares of the Issuer were acquired on July 17, 2017 and
180,000 common shares of the Issuer were acquired on July 18, 2017.
2,248,500 common shares were purchased at a price of $0.15 per share and 300,000 common shares were purchased at a
price of $0.17 per share, for total aggregate consideration of $388,275. The common shares acquired by Mr. Johnson represent
approximately 10.1% of the issued and outstanding common shares of the Issuer.
Prior to this acquisition, Mr. Johnson directly and indirectly owned 6,059,995 common shares of the Issuer,
representing approximately 23.96% of the issued and outstanding common shares of the Issuer (7,436,795 common shares and 27.89%,
respectively, assuming the exercise of the convertible securities described below). After the completion of the share purchase,
Mr. Johnson now directly and indirectly owns 8,608,495 common shares representing approximately 34.04% of the issued and
outstanding common shares, together with options and warrants to acquire an aggregate of 1,376,800 common shares of the Issuer.
If Mr. Johnson were to exercise these convertible securities, he would own, directly and indirectly, 9,985,295 common shares of
the Issuer, representing approximately 37.44% of the Issuer’s then-outstanding common shares, on a partially diluted basis.
Mr. Johnson acquired the common shares in reliance on the “private agreement exemption” under section 4.2(1) of
National Instrument 62-104 –Take-Over Bids and Issuer Bids. The common shares were acquired by way of two private
agreements, each with a single vendor at a price per common share not exceeding 115% of the market price of the common shares, as
determined in accordance with applicable securities laws.
The common shares were acquired for investment purposes. Mr. Johnson may, from time to time, depending on market
and other conditions, increase or decrease his beneficial ownership, control or direction over securities of the Issuer through
market transactions, private agreements or otherwise.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over
Bid and Insider Reporting Issues which requires a report to be filed under the Issuer's profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters. A copy of such
report may be obtained by contacting Erik Martin at Murchison Minerals Ltd., Suite 2500, 120 Adelaide Street West, Toronto, ON
M5H 1T1.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/DonJohnson07192017.pdf
Source: Donald K. Johnson
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