OCEAN PARTNERS INVESTMENTS LIMITED PROVIDES UPDATE OF ITS OWNERSHIP OF COMMON SHARES OF DORÉ COPPER MINING CORP.
MAIDENHEAD, UK, Aug. 30, 2023 /CNW/ – Ocean Partners Investments Limited (“Ocean Partners Investments“) announced today an update in respect of its ownership of common shares (“Common Shares“) in the capital of Doré Copper Mining Corp. (“Doré Copper“).
As a result of treasury issuances of Common Shares by Doré Copper (the “Company Issuances“), Ocean Partners Investments’ beneficial ownership of the issued and outstanding Common Shares decreased to less than 10% without any action being taken by Ocean Partners Investments. On May 9, 2022, Ocean Partners Investments disposed of 2,664,000 Common Shares pursuant to a private agreement for consideration of $0.68 per Common Share and $1,811,520 in total (the “Transaction“). The Transaction was the first transaction undertaken by Ocean Partners Investments that changed Ocean Partners Investments’ securityholding percentage in the Common Shares since the Company Issuances.
Immediately before the Transaction, Ocean Partners Investments owned 5,920,000 Common Shares, representing approximately 8.87% of the issued and outstanding Common Shares. Immediately after the Transaction, Ocean Partners Investments owned 3,256,000 Common Shares, representing 4.88% of the issued and outstanding Common Shares, which is a decrease of approximately 3.99% in its securityholding percentage in the Common Shares. Ocean Partners Investments disposed ownership of and ceased to have control over the 2,664,000 Common Shares.
Since the date of its last early warning report in respect of the Common Shares, as a result of the Company Issuances and the Transaction, Ocean Partners Investments’ securityholding percentage in the Common Shares decreased from approximately 23.02% to 4.88%, which is a decrease of approximately 18.14% in its securityholding percentage in the Common Shares.
Ocean Partners Investments’ disposition of the Common Shares was made in connection with the winding up of Ocean Partners Investments’ business operations. Since the Transaction, Ocean Partners Investments has disposed of its remaining 3,256,000 Common Shares, representing a further decrease of approximately 4.88% in its securityholding percentage in the Common Shares.
This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR+ profile of Doré Copper at www.sedarplus.ca. To obtain a copy of the early warning report, you may also contact Brent Omland, Director of Ocean Partners Investments, at +44 1628 644 060. Ocean Partners Investments’ address is The Pearce Building, Third Floor, West Street, Maidenhead, Berkshire, United Kingdom, SL6 1RL. The address of the head office of Doré Copper is 130 King Street West, Suite 1800, Toronto, Ontario, M5X 1E3.
SOURCE Ocean Partners Investments Limited
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