Acquisition of Shares of EPM Mining Ventures Inc. by Mr. Jeff Gentry
27 Mars 2014 - 7:59PM
Marketwired
Acquisition of Shares of EPM Mining Ventures Inc. by Mr. Jeff
Gentry
SALT LAKE CITY, UTAH--(Marketwired - Mar 27, 2014) - This press
release is issued by Mr. Jeff Gentry, pursuant to the early warning
requirements of National Instrument 62-103 with respect to the
issuance of non-voting common shares ("Non-Voting Shares") of EPM
Mining Ventures Inc. (TSX-VENTURE:EPK)(OTCQX:EPKMF) ("EPM"), a
reporting issuer in certain jurisdictions in Canada. In accordance
with such early warning requirements, Mr. Gentry is required to
report certain information in respect of his holdings of securities
of EPM.
Mr. Gentry announced today that he has entered into a share
repurchase agreement (the "SPA") with EPM pursuant to which he
agreed to sell 7,150,490 common shares ("Common Shares") of EPM to
EPM for cancellation in return for 7,150,490 Non-Voting Shares. As
of the date hereof, Mr. Gentry owns and controls 7,150,490 Common
Shares, representing approximately 6.6% of the issued and
outstanding Common Shares on an undiluted basis and 2,769,420
Non-Voting Shares, representing approximately 56.1% of the issued
and outstanding Non-Voting Shares on an undiluted basis.
Following the completion of the sale, Mr. Gentry will own and
control 9,919,910 Non-Voting Shares, representing approximately
27.3% of the issued and outstanding Non-Voting Shares on an
undiluted basis. The Non-Voting Shares are convertible into Common
Shares on a one-for-one basis. If Mr. Gentry were to convert his
Non-Voting Shares to Common Shares he would have ownership and
control of 9,919,910 Common Shares, representing approximately
11.4% of the issued and outstanding Common Shares on a partially
diluted basis.
A press release announcing the entering into of the SPA was
issued by EPM on March 27, 2014.
The Common Shares are being sold by Mr. Gentry to assist EPM to
meet certain shareholder thresholds for US securities law reasons.
Mr. Gentry will evaluate his investment in EPM from time to time
and may, based on such evaluation of market conditions and other
circumstances, convert, increase or decrease securityholdings in
EPM as circumstances require. For further information and to obtain
a copy of the early warning report filed under applicable Canadian
provincial securities legislation in connection with the
transactions hereunder, please go to the EPM profile on the SEDAR
website www.sedar.com or contact Mr. Gentry at telephone number:
(801) 485-0223.
Note: Disclosure regarding the percentage of outstanding shares
is based on information provided by EPM.
Note on Forward-Looking Information
This press release includes certain forward-looking information,
including statements relating to Mr. Gentry's interests in EPM and
his future intentions in respect thereof, using words including
"anticipate ", "believe", "could", "expect", "intend", "may",
"plan", "potential", "project", "seek", "should", "will", "would"
and similar expressions, which are intended to identify a number of
these forward-looking statements. This forward-looking information
reflects current views with respect to current and future events
and circumstances and is not a guarantee of future performance and
is subject to risks, uncertainties and assumptions, including those
relating to changes in business, performance and markets. Actual
results may differ materially from information contained in the
forward-looking information as a result of a number of those
factors. Forward-looking information is provided for the purpose of
providing information about management's current expectations and
plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes Mr. Gentry
undertakes no obligation to publicly update or revise any
forward-looking information contained in this press release, except
as required by applicable laws.
Mr. Jeff Gentry(801) 485-0223
(TSXV:EPK)
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