Greencastle Resources Ltd. (TSXV-VGN) has acquired an additional 1.4 million common shares in the capital of Highrock Resources Ltd. (CSE-HRK).
Greencastle now holds 3.9 million common shares, representing approximately 29.31 per cent of the issued and outstanding common shares of Highrock on an undiluted basis.
The Highrock shares were purchased at a price of one cent per common share, pursuant to a share purchase agreement between the company and an arns’ length third party.
Depending on market and other conditions, or as future circumstances may dictate, the company may from time to time increase or decrease its holdings of common shares or other securities of the Highrock. A copy of the early warning report will be available on Highrock’s issuer profile on SEDAR+.
The transaction was conducted in reliance on the private agreement exemption in Section 4.2 of National Instrument 62-104 — Take-Over Bids and Issuer Bids and as a result was exempt from the takeover bid requirements in Part 2 of NI 62-104.