TORONTO, Jan. 13, 2022 /CNW/ - Donald K. Johnson, an
insider of Murchison Minerals Ltd. (TSXV: MUR) (the
"Issuer") announced, on January
11, 2022, the exercise of 4,000,000 common share
purchase warrants ("Warrants") of the Issuer, at an exercise
price of C$0.12 per Warrant, for a
total consideration of C$480,000 (the
"Warrant Exercise"). The common shares acquired by Mr.
Johnson represent approximately 2.54% of the issued and outstanding
common shares of the Issuer.
Prior to this acquisition, Mr. Johnson directly and indirectly
owned 45,495,162 common shares of the Issuer,
representing approximately 29.62% of the issued and
outstanding common shares of the Issuer (59,514,162
common shares and 35.46%, respectively, assuming the
exercise of the convertible securities described below).
After the completion of the Warrant Exercise, Mr.
Johnson now directly and indirectly
owns 49,495,162 common shares representing
approximately 31.37% of the issued and outstanding common
shares, together with options and warrants to acquire
an aggregate of 10,019,000 common shares of the
Issuer. If Mr. Johnson were to exercise these
convertible securities, he would own, directly and indirectly,
59,514,162 common shares of the Issuer, representing
approximately 35.46% of the Issuer's outstanding common
shares, on a partially diluted basis.
The common shares were acquired for investment
purposes. Mr. Johnson may, from time to time,
depending on market and other conditions, increase or decrease
his beneficial ownership, control or direction over securities
of the Issuer through market transactions, private agreements
or otherwise.
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 under the Issuer's profile
on SEDAR (www.sedar.com) containing additional information
respecting the foregoing matters. A copy of such
report may be obtained by contacting Erik Martin at Murchison Minerals Ltd., Suite
100, 5063 North Service Road, Burlington,
ON L7L 5H6.
SOURCE Donald K. Johnson