Report of Steven Simpson's Acquisition of Control and Direction over Common Shares of Goldsource Mines Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2017) - Steven Simpson ("Simpson") reports that it has acquired control and direction over 3,529,410 common shares ("Common Shares") of Goldsource Mines Inc. ("Goldsource") through the private placement purchase by Mitan Holdings Limited ("Mitan") on February 8, 2017 of 1,764,705 units of Goldsource ("Units") at Cdn.$0.17 per Unit for total consideration paid of Cdn.$299,999.85. Each Unit consisted of one Common Share and one Common Share purchase warrant ("Warrant"), with each Warrant being exercisable to purchase one Common Share at Cdn.$0.23 until February 8, 2019.
Simpson currently has deemed beneficial ownership of, or control and direction over, 25,124,557 Common Shares of Goldsource (including 7,694,705 Common Shares underlying share purchase warrants or stock options of Goldsource held by Simpson and/or Mitan), representing 14.4% of the deemed outstanding Common Shares, a decrease of 3.6% over Simpson's previously reported shareholding percentage in the Common Shares due to Common Share activity by Goldsource, Simpson or Mitan.
Mitan has acquired the Common Shares for investment purposes. Simpson or Mitan may acquire additional Common Shares or dispose of Common Shares (through market or private transactions or exercises of share purchase warrants or stock options) from time to time.
A copy of the related early warning report may be obtained from the SEDAR website (www.sedar.com) or from Linda Liang at (65) 6223 0936.