Early Warning Notice Regarding 79 Resources Ltd.
This press release is issued pursuant to Multilateral Instrument 62-104, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.Ryan Kalt reports that he has acquired, on an indirect basis and in the aggregate, a total of 1,357,000 common shares (the "Acquired Shares") of 79 Resources Ltd. (CSE:SNR) ("79 Resources" or the "Issuer") through Kalt Industries Ltd., an entity wholly-owned by Mr. Kalt, with aggregate cash consideration paid of approximately $32,615, and such acquisitions made by way of open-market purchases through facilities of the CSE (or other domestic exchange) for a period ended at market close on June 13, 2023 (the "Acquisition Period"). Mr. Kalt further advises that for purposes of this news release he acquired, in combination with the Acquired Shares, a direct total of 700,000 common share stock options granted by the Issuer on March 15, 2022 and having an exercise price of $0.10 per common share stock option (the "Acquired Options"), which if exercised and when now combined with the Acquired Shares, together represent approximately 2.01% of the currently issued common shares of the Issuer.
As a result of the foregoing, Mr. Kalt has made the filing noted herein.
As at the date hereof, Mr. Kalt now holds, on an combined direct and indirect basis, the aggregate current total of 81,357,000 common shares of 79 Resources, representing approximately 79.62% of the Issuer's presently issued and outstanding common shares, and in addition to the forgoing, a further 700,000 common share stock options, which if exercised, would represent approximately 0.68% of the Issuer, and so together numerically constituting approximately 80.3% of the Issuer as now comprised.
Mr. Kalt is the Chairman and Chief Executive Officer of the Issuer.
The shares were acquired by Mr. Kalt for investment purposes. Mr. Kalt may acquire additional securities of the Issuer either on the open market or through private acquisitions or sell securities of the Issuer either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Other than the foregoing, Mr. Kalt does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.
"Ryan Kalt"
Ryan Kalt
The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from SEDAR at www.sedar.com. In the alternate, to obtain a copy of the report, please contact Mr. Kalt at 1.403.454.2984.
The CSE has not reviewed, approved or disapproved the contents of this press release.
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