Toronto, Ontario--(Newsfile Corp. - March 3, 2022) - 21Alpha Resources Inc. ( "21Alpha"), announced that it has filed an early warning report related to a transfer of 699,301 common shares ("Common Shares") of Mongoose Mining Inc. (the "Issuer") (head office located at head office located at Suite 3000, 77 King Street West, Toronto, Ontario M5K 1G8) to two of its directors, Jimmy Gravel (acquired 349,650 Common Shares) and John Shurko (acquired 349,651 Common Shares). Mr. Gravel and Mr. Shurko are joint actors with 21Alpha.
Upon completion of the transfer, 21Alpha beneficially owns and has control of 6,293,706 Common Shares which represents approximately 19.57% of the issued and outstanding Common Shares as calculated in accordance with National Instrument 62-104 Take-Over Bids and Insider Bids. Prior to completing the transfer of Common Shares, 21Alpha held 6,993,007 Common Shares which represented 21.75% of the issued and outstanding Common Shares and following completion of the transaction he holds 6,293,706 Common Shares representing 19.57% of the outstanding Common Shares on an undiluted basis. As Mr. Gravel and Mr. Shurko are considered to be acting jointly and in concert with 21Alpha the total ownership of the group remains at 21.75% of the outstanding Common Shares of the Issuer.
The Common Shares were transferred in private transactions at a price of $0.195 per share. 21Alpha's view of the Issuer and investment may change, depending on market and other conditions, or as future circumstances may dictate, from time to time. 21Alpha, on an individual or joint basis, may increase or dispose of some or all of their ownership in the Issuer or may continue to hold his current position.
This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated March 3, 2022. A copy of the early warning report relating to the transfer will be available under the Issuer's profile on the System for Electronic Document Analysis and Review ("SEDAR") at www.sedar.com.
CONTACT INFORMATION
FOR MORE INFORMATION CONTACT:
John Shurko
Director
21Alpha Resources Inc.
49 Queen Street, PO Box 794, Chester, Nova Scotia B0J 1J0
Phone: (902) 233-3746
Email: johnshurko@gmail.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115577
