/EIN News/ — UTRECHT, Netherlands, Oct. 12, 2022 (GLOBE NEWSWIRE) — Stichting Depositary Plethora Precious Metals Fund (“Plethora”) announces that on September 26, 2022 Madoro Metals Corp. (the “Company”) closed a private placement of 9,670,000 units at a price of CAD$0.05 per unit, for gross proceeds of $483,500 CAD (the “Transaction”). Each unit consists of one common share (a “Share”) and one-half of one common share purchase warrant (a “Warrant”) of the Company. Each whole Warrant is exercisable into a Share at a price of CAD$0.08 for a period of 24 months from the date of issuance. The Transaction resulted in the dilution of Plethora’s interest in the issued and outstanding common shares of the Company below 10%.
Plethora owns 7,651,001 Shares the Company, which prior to the Transaction had represented 11.26% of the Company’s issued and outstanding common shares on an undiluted and partially diluted basis. Following the Transaction, Plethora owns the same number of shares and thus Plethora’s interest in the Company has been diluted to an amount representing 9.86% of the Company’s issued and outstanding common shares on an undiluted and partially diluted basis.
In satisfaction of the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an early warning report respecting the acquisition of securities by Plethora will be filed under the Company’s SEDAR Profile at www.sedar.com.
Plethora holds its investment in the Company for investment purposes. Depending on market and other conditions, Plethora may from time to time in the future increase or decrease their ownership, control or direction over securities of the Company, through market transactions, private agreements, or otherwise.
Plethora is incorporated under the laws of the Netherlands and its head office located at Eurocenter I, 7th floor, Barbara Strozzilaan 310 1083HN, Amsterdam, The Netherlands. The principal business of Plethora is a Management Fund.
For information, please contact:
Douwe van Hees – Fund Manager
Eurocenter I, 7th floor, Barbara Strozzilaan 310
Phone: +3 16 14 51 46 92
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.