Business
Denarius Metals Announces Filing of Early Warning Report in Connection with Securities Acquired by Mr. Serafino Iacono
Toronto, Ontario--(Newsfile Corp. - March 11, 2024) - Denarius Metals Corp. (TSXV: DSLV) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today the
About this update from Denarius Metals Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - March 11, 2024) - Denarius Metals Corp. (TSXV: DSLV) (OTCQX: DNRSF) (\"Denarius Metals\" or the \"Company\") announced today the filing of an Early Warning Report by Mr. Serafino Iacono, Executive Chairman and CEO of the Company, pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. From May 3, 2023 through to the current date, Mr. Iacono has acquired, through open market purchases (the \"Acquisitions\"), both personally and through Brockville International Holdings Corp., a company over which Mr. Iacono has control and direction, beneficial ownership of 2,849,500 common shares of the Company at an average price of CA$0.5359 per share. In addition, as announced in the Company's press release dated October 19, 2023, Mr. Iacono acquired CA$2,850,000 of the Senior Unsecured Convertible Debentures due 2028 (the \"Debentures\") issued in the first tranche of its private placement offering that closed on that date. As of May 3, 2023, Mr. Iacono beneficially owned or exercised control or direction over 3,558,528 common shares (representing 5.9% of the issued and outstanding common shares on a non-diluted basis), 900,000 stock options and 2,819,014 common share purchase warrants. As of the date hereof, including the Acquisitions and the Debentures, Mr. Iacono beneficially owns and controls 6,408,028 common shares (representing approximately 10.1% of the Company's issued and outstanding common shares), 900,000 stock options, 2,819,014 warrants and CA$2,850,000 Debentures. If Mr. Iacono were to exercise all of his stock options, warrants and Debentures, assuming no other security holders exercised any convertible securities, Mr. Iacono would beneficially control 16,460,375 common shares, representing approximately 22.5% of the common shares issued and outstanding at that time. Mr. Iacono holds his securities for investment purposes. Mr. Iacono will not exercise such number of warrants or convert such amount of the Debentures so as to bring his undiluted share position above 19.9% of the Company's issued and outstanding common shares without prior approval of the TSX Venture Exchange and until approval thereof by the disinterested shareholders of Denarius Metals. This news release is being issued in accordance with N...