Vancouver, British Columbia--(Newsfile Corp. - June 20, 2024) - Lions Bay Capital Inc. (TSXV: LBI) (the "Acquiror") announces that on June 19, 2024, it acquired ownership of an additional 8,500,000 common shares of Fidelity Minerals Corp. (the "Issuer") as part a shares for debt transaction where the Acquiror settled $425,000 in outstanding loans at a deemed price of $0.05 (the "Acquisition").
Prior to the Acquisition, the Acquiror owned an aggregate of 42,827,811 common shares of the Issuer, representing approximately 48.23% of the issued and outstanding common shares of the Issuer on an undiluted basis. As a result of the Acquisition, the Acquiror owns a total of 51,327,811 common shares of the Issuer, representing approximately 49.91% of the issued and outstanding common shares of the Issuer on an undiluted basis.
"We are very excited by the potential of the Las Huaquillas property held by Fidelity, which we consider a tier one epithermal gold and porphyry target," stated Mr. John Byrne, the Executive Chairman of Lions Bay.
The securities acquired by the Acquiror will be held for investment purposes. The Acquiror may, depending on market and other conditions, increase or decrease its beneficial ownership of the Issuer's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors including general market conditions and other available investment and business opportunities.
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 containing additional information with respect to the foregoing matters. A copy of the Acquiror's early warning report will be available on the Issuer's profile on the SEDAR website at www.sedarplus.ca.
The Issuer's head office is located at 1201 - 1166 Alberni Street, Vancouver, BC, V6E 3Z3.
John Byrne
Executive Chairman
Tel: +61 3 9236 2800
Email: jbyrne@lionsbaycapital.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213882
