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Press Release Regarding Acquisition of Murchison Minerals Common Shares and Common Share Purchase Warrants
Press Release Regarding Acquisition of Murchison Minerals Common Shares and Common Share P...
About this update from Murchison Minerals Ltd
[{"type":"text","content":"\n\n\n\nPress Release Regarding Acquisition of Murchison Minerals Common Shares and Common Share Purchase Warrants\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 27, 2020\n\n\n\nTORONTO, July 27, 2020 /CNW/ - Donald K. Johnson, an insider of Murchison Minerals Ltd. (TSXV: MUR) (the \"Issuer\") today announced the acquisition on July 23, 2020 of 4,000,000 common share units (\"Units\") of the Issuer pursuant to the private placement of the Issuer disclosed in the Issuer's press release dated July 24, 2020 and filed on SEDAR (www.sedar.com). Each Unit consisted of one common share of the Issuer and one common share purchase warrant of the Issuer, each warrant entitling the holder to acquire one additional common share until January 23, 2022 at an exercise price of $0.12 per share.\nThe Units were purchased at a price of $0.065 per Unit for total consideration of $260,000. The common shares acquired by Mr. Johnson represent approximately 5.1% of the issued and outstanding common shares of the Issuer after the private placement.\nPrior to this acquisition, Mr. Johnson directly and indirectly owned 20,087,162 common shares of the Issuer, representing approximately 31.1% of the issued and outstanding common shares of the Issuer (24,314,829 common shares and 35.3%, respectively, assuming the exercise of the convertible securities described below). After the completion of the private placement, Mr. Johnson now directly and indirectly owns 24,087,162 common shares representing approximately 31.1% of the issued and outstanding common shares, together with options and warrants to acquire an aggregate of 8,727,667 common shares of the Issuer. If Mr. Johnson were to exercise these convertible securities, he would own, directly and indirectly, 32,814,829 common shares of the Issuer, representing approximately 37.9% of the Issuer's outstanding common shares, on a partially diluted basis.\nThe common shares were acquired for investment purp...