Toronto, Ontario--(Newsfile Corp. - June 30, 2021) - Michael Gentile announces that he has filed an early warning report (the "Report") announcing the acquisition ("Acquisition") of 9,150,000 units (the "Units") in the capital of Big Ridge Gold Corp. (the "Company"). Each Unit consists of one flow-through common share (each, a "FT Share") and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable into one common share in the capital of the Company (each, a "common Share") at a price of $0.18 per Common Share for a period of 24 months from date of issuance. The FT Shares and Warrants comprising the Units qualify as "flow-through shares" as defined in subsection 66(15) of the Income Tax Act (Canada) ("ITA").
Prior to the completion of the Acquisition, Mr. Gentile did not beneficially own or control, directly or indirectly any securities of the Company. Following the completion of the Acquisition, Mr. Gentile beneficially owns and controls, an aggregate of 9,150,000 Common Shares and 9,150,000 Warrants, representing approximately 11.06% of the Company's issued and outstanding Common Shares an undiluted basis and 19.92% of the Company's issued and outstanding on a partially diluted basis.
The Units were acquired for investment purposes. Mr. Gentile has a long-term view of the investment and may acquire additional securities of the Company either on the open market or through private acquisitions or sell the Common Shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
For further details relating to the acquisition, please see the Report, a copy of which is available on SEDAR or from Michael Gentile at 514-591-4227.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89205
