Vancouver, British Columbia--(Newsfile Corp. - October 6, 2023) - David H. Evans ("Evans") is disseminating this press release as required by National Instrument 62-103 in connection with the filing of an early warning report regarding the acquisition of securities of Cobra Venture Corporation ("Cobra" or the "Company").
Mr. Evans along with Sureway Metal Systems Limited, a company which Mr. Evans beneficially owns, directly or indirectly, or has control or direction over, (collectively with Evans, the "Evans Entities") acquired 400,000 common shares in the capital of the Company ("Shares") pursuant to the exercise of 400,000 stock options ("Options"). Each Option was exercisable into a Share at a price of $0.135 per Share, for gross proceeds of $54,000.
Immediately prior to the transaction, the Evans Entities had beneficial ownership and control of an aggregate of 1,859,721 Shares, representing approximately 11.53% of the issued and outstanding Shares on an undiluted basis. Prior to the transaction, the Evans Entities also held 400,000 Options for the purchase of an additional 400,000 Shares. Assuming the exercise of the Options in full, the Evans Entities would have held 2,259,721 Shares or approximately 13.67% of the Issuer's Shares.
Immediately after the transaction the Evans Entities had beneficial ownership and control of an aggregate of 2,259,721 Shares, representing approximately 13.67% of the issued and outstanding Shares on a non-diluted basis. The Evans Entities now hold no Options.
The Evans Entities acquired the Shares for investment purposes. The Evans Entities may acquire additional securities or dispose of existing securities on the basis of the Evans Entities' assessment of market conditions and in compliance with applicable securities regulatory requirements.
A copy of the early warning report can be found on the Company's SEDAR+ profile at www.sedarplus.ca. For more information, or to obtain a copy of the early warning report, please contact:
David Evans
Email: info@cobraventure.com
(604) 922-2030
NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183180
