Stichting Depositary Plethora Precious Metals Fund Reports Early Warning Report in respect of Madoro Metals Corp. (TSXV: MDM)
13 October 2022 - 2:11AM
Stichting Depositary Plethora Precious Metals Fund
(“
Plethora”) announces that on September 26, 2022
Madoro Metals Corp. (the “
Company”) closed a
private placement of 9,670,000 units at a price of CAD$0.05 per
unit, for gross proceeds of $483,500 CAD (the
“
Transaction”). Each unit consists of one common
share (a “
Share”) and one-half of one common share
purchase warrant (a “
Warrant”) of the Company.
Each whole Warrant is exercisable into a Share at a price of
CAD$0.08 for a period of 24 months from the date of issuance. The
Transaction resulted in the dilution of Plethora’s interest in the
issued and outstanding common shares of the Company below 10%.
Plethora owns 7,651,001 Shares the Company,
which prior to the Transaction had represented 11.26% of the
Company’s issued and outstanding common shares on an undiluted and
partially diluted basis. Following the Transaction, Plethora owns
the same number of shares and thus Plethora’s interest in the
Company has been diluted to an amount representing 9.86% of the
Company’s issued and outstanding common shares on an undiluted and
partially diluted basis.
In satisfaction of the requirements of National
Instrument 62-104 – Take-Over Bids and Issuer Bids and National
Instrument 62-103 – The Early Warning System and Related Take-Over
Bid and Insider Reporting Issues, an early warning report
respecting the acquisition of securities by Plethora will be filed
under the Company’s SEDAR Profile at www.sedar.com.
Plethora holds its investment in the Company for
investment purposes. Depending on market and other conditions,
Plethora may from time to time in the future increase or decrease
their ownership, control or direction over securities of the
Company, through market transactions, private agreements, or
otherwise.
Plethora is incorporated under the laws of the
Netherlands and its head office located at Eurocenter I, 7th floor,
Barbara Strozzilaan 310 1083HN, Amsterdam, The Netherlands. The
principal business of Plethora is a Management Fund.
For information, please contact:
Douwe van Hees - Fund ManagerEurocenter I, 7th floor, Barbara
Strozzilaan 3101083HN, AmsterdamNetherlandsPhone: +3 16 14 51 46
92
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein.
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