MEDELLIN, COLOMBIA -- (Marketwired) -- 07/15/13 -- Bullet Holding Corporation ("Bullet") announces that effective July 15, 2013, Robert W. Allen caused Bullet to transfer a total of 3,759,100 common shares of Solvista Gold Corporation ("Solvista") pursuant to private transactions with third parties. Solvista Gold Corporation is a reporting issuer in Canada with common shares listed on the TSX Venture Exchange under the trading symbol, "SVV". Robert W. Allen is a reporting insider of Solvista, and Mr. Allen controls Bullet.
Before giving effect to these transfers and including the holdings of Bullet, Robert W. Allen had indirect ownership of a total of 15,831,053 common shares of Solvista representing a total of 23.2% of the issued and outstanding common shares of Solvista as a result of his control of the following companies which own shares of Solvista: Bullet Holding Corporation (15,412,795 Shares); and, Reindeer Capital Limited (418,258 Shares). In addition, Mr. Allen indirectly owns warrants to acquire 222,222 common shares which increases his indirect ownership to a total of 23.5% of the issued and outstanding common shares of Solvista on a partially diluted basis, before giving effect to these transfers.
As a result of these transfers and including the holdings of Bullet, Robert W. Allen currently has indirect ownership of a total of 12,071,953 common shares of Solvista representing a total of 17.7% of the issued and outstanding common shares of Solvista as a result of his control of the following companies which own shares of Solvista: Bullet Holding Corporation (11,653,695 Shares); and, Reindeer Capital Limited (418,258 Shares). On a partially diluted basis and after giving effect to these transfers, Mr. Allen has indirect ownership of a total of 18.0% of the issued and outstanding common shares of Solvista.
These transfers of common shares of Solvista occurred in private transactions entered into for the purpose of acknowledging the efforts of business and other associates made directly and indirectly in the founding and development of Solvista. The transfers were made for an indeterminate value.
For the purposes of National Instrument 62-103 early warning reporting, the address of Robert W. Allen is Carerra Calle 12, No. 30-80, Medellin, Antioquia, Colombia. Mr. Allen holds common shares of Solvista for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over common shares or other securities of Solvista, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.
Contacts:
Gary P. Barket, P.A.
Attorney at Law
Suite A, 449 Valley Club Circle
Little Rock, AR 72212
Phone: 501-217-0400
gary@garybarketlaw.com
