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Vancouver, British Columbia--(Newsfile Corp. - September 7, 2021) - WMC Equities Inc. ("WMC") announced today that it acquired (the "Acquisition") 300,000 common shares (the "Purchased Shares") of Keon Capital Inc. ("Keon") from Fortune Silver Mines Inc. ("Fortuna") at a price of $0.10 per Purchased Share for an aggregate purchase price of $30,000.00 pursuant to a share purchase agreement entered into between WMC and Fortuna on September 7, 2021.
Prior to the Acquisition, WMC did not hold, directly or indirectly, any securities in the capital of Keon. As a result of the Acquisition, WMC now holds, directly, a total of 300,000 common shares, representing approximately 15.660% of the issued and outstanding common shares of Keon. WMC acquired the Purchased Shares for private investment purposes and may increase or decrease its beneficial ownership or control in Keon as circumstances or market conditions warrant.
The Acquisition was conducted in reliance on the "private agreement exemption" in section 4.2 of National Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104") and as a result was exempt from the take-over bid requirements in Part 2 of NI 62-104. The Purchased Shares were purchased from fewer than five (5) sellers and at a price less than 115% of the market price of the Purchased Shares, in each case as calculated in accordance with NI 62-104.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the related early warning report is being filed with the applicable securities commissions and can be found at www.sedar.com.
FOR FURTHER INFORMATION, CONTACT:
WMC Equities Inc.
Contact: William McCartney
604 307 8103
780 Riverside Drive
North Vancouver, BC Y7H 1V5
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95828