Queensberry Mining and Development Corp. Acquires Additional Shares of St. Augustine Gold and Copper Limited
05 August 2022 - 10:33PM
Queensberry Mining and Development Corp.
(“
Queensberry”) is pleased to announce that it has
acquired 82,841,658 common shares (the “
Shares”)
of St. Augustine Gold and Copper Limited (“
SAU”) a
Philippines based mineral exploration company focusing on the
acquisition, exploration and evaluation of mineral properties. The
Shares were acquired pursuant to a non-brokered private placement
transaction (the “
Private Placement”) at a price
of $0.046311119 per Share. The Private Placement closed on August
4, 2022.
Queensberry acquired 82,841,658 Shares representing
approximately 9.9% of the issued and outstanding Shares (on a
non-diluted basis). Immediately prior to the Private Placement,
Queensberry owned 325,836,898 Shares (approximately 38.94% of the
issued and outstanding Shares). As a result of the Private
Placement, Queensberry has increased in ownership of Shares by 5.5%
and now owns 408,678,556 Shares (approximately 44.44% of the issued
and outstanding Shares). Queensberry’s President and CEO, Manuel
Paolo A. Villar, personally has ownership and control over an
additional 218,500 Shares (approximately 0.02% of the issued and
outstanding Shares).
The Shares were acquired at a price of $0.046311119 per Share
for an aggregate price of $3,836,489.88. Queensberry holds Shares
in SAU 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 SAU through market
transactions, private agreements, treasury issuances or
otherwise.
Queensberry’s head office is located at 3rd Floor, Star Mall Las
Pinas, CV Starr Avenue, Philamlife Village, Pamplona, Las pinas
City, Philippines. For further information please contact Erma M.
Abalos at (+632) 7728-8491. SAU’s head office is located at No. 21,
Greenwood Lane, Singapore, 286949. SAU is listed on the Toronto
Stock Exchange under the symbol “SAU”.
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