Bernard C. Sherman Purchases Flow-Through Units of Anconia Resources Corp.
North York, Ontario--(Newsfile Corp. - August 28, 2013) - Bernard C. Sherman announces that he has purchased 5,000,000 flow-through units from the treasury of Anconia Resources Corp. (“Anconia”) (TSX-V: ARA) pursuant to a non-brokered private placement offering. Each such flow-through unit is comprised of one common share of Anconia and one-half of one common share purchase warrant, each whole share purchase warrant exercisable to purchase one common share of Anconia from treasury at the price of $0.16 per share for a period of 18 months following the date of issuance of the 5,000,000 flow-through units. The flow-through units of Anconia were issued at the price of $0.12 per unit. Bernard C. Sherman understands that Anconia relied on the exemption under section 2.3 of National Instrument 45-106 (accredited investor) in issuing the flow-through units to him, based on a representation made by Bernard C. Sherman as to his accredited investor status.
Immediately following the aforementioned transaction Bernard C. Sherman, together with joint actors, owned an aggregate of 14,210,889 common shares of Anconia, comprising approximately 27.7% of the outstanding common shares of Anconia, together with warrants exercisable to purchase an additional 3,994,000 common shares of Anconia which would, if all such warrants were immediately exercised, result in Bernard C. Sherman, together with joint actors, owning an aggregate of 18,204,889 common shares of Anconia, comprising approximately 32.9% of the outstanding common shares of Anconia. The foregoing percentages are based on information provided by Anconia as to its outstanding shares. To the knowledge of Bernard C. Sherman, neither he nor any persons acting jointly or in concert with him intend to acquire any additional securities of Anconia.
A report containing additional information in respect to the foregoing may be obtained by calling Jeffrey Cohen at (416) 777-5422.