Glenn Smith Acquires Shares of Wilton Resources Inc.
Calgary, Alberta--(Newsfile Corp. - October 24, 2019) - Glenn Smith ("Smith") announced today that he has acquired an aggregate of 1,500,000 common shares and 1.500,000 common share purchase warrants of Wilton Resources Inc. (TSXV: WIL) ("Wilton" or, the "Corporation"). Smith acquired the securities pursuant to the closing of a private placement of 1,500,000 units of the Corporation at a purchase price of $0.35 per unit for gross proceeds of $525,000 (the "Offering"). Each of the units sold in the Offering (the "Units") were comprised of one common share in the capital of the Corporation ("Common Share") and one common share purchase warrant ("Warrant"). Smith acquired 1,500,000 Units comprised of 1,500,000 Common Shares and 1,500,000 Warrants at a price per Unit of $0.35 and an aggregate purchase price of $525,000 (the "Acquisition").
Prior to the Acquisition, Smith held 4,582,714 Common Shares, representing approximately 8.50% of the Issuers 53,934,832 issued and outstanding Common Shares. As a result of the Acquisition, Smith now has beneficial ownership of an aggregate of 6,082,714 Common Shares, representing approximately 10.97% of the Issuer's 55,434,832 issued and outstanding Common Shares.
Prior to the Acquisition, Smith held 535,714 Warrants, which, together with the 4,582,714 Common Shares held by Smith, represented approximately 9.40% of the Issuer's 54,470,546 issued and outstanding Common Shares, on a partially-diluted basis. As a result of the Acquisition Smith now has beneficial ownership of an aggregate of 2,035,714 Warrants. Assuming due exercise of his 2,035,714 Warrants, Smith would own 8,118,428 Common Shares representing approximately 14.13% of the Issuer's 57,470,546 issued and outstanding Common Shares, on a partially-diluted basis.
Smith acquired the securities under the Offering for private investment purposes and may increase or decrease his beneficial ownership or control over securities of Wilton as circumstances or market conditions warrant.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report will appear with Wilton's documents on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
Wilton's head office is located at 1404 Joliet Avenue SW, Calgary, Alberta T2T 1S2.
For further information or to request a copy of the early warning report, please contact:
236 Sunmills Place SE
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49117