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Mantra Exploration Inc. Issues Early Warning News Release
September 03, 2020 7:36 PM EDT | Source: Mantra Exploration Inc.
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2020) - Raj Chowdhry ("Mr. Chowdhry") of 6153 Glendalough Place Vancouver, BC V6N 1S5 announces his intention to file early warning reports in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid And Insider Reporting Issuers ("NI 62-103") in connection with the acquisition of securities in Mantra Exploration Inc. ("Mantra Exploration"), Mantra Pharma Inc. ("Mantra Pharma") and Mantra 2 Real Estate Inc. ("Mantra 2 Real Estate" and collectively with Mantra Exploration and Mantra Pharma, the "Companies"). The head office of each of Mantra Exploration, Mantra Pharma and Mantra 2 Real Estate is located at 6153 Glendalough Place Vancouver, BC V6N 1S5.
Further to the joint news release dated September 1, 2020 of AsiaBaseMetals Inc. ("AsiaBase") and each of the Companies, whereby the parties announced the closing of a spinout transaction (the "Transaction") completed by AsiaBase pursuant to an arrangement agreement dated July 10, 2020 among AsiaBase and each of the Companies, Mr. Chowdhry, the President, Chief Executive Officer and a Director of each of the Companies, acquired an aggregate of 21,427,429 common shares in the capital of each of the Companies (collectively, the "Mantra Shares").
Immediately prior to the Transaction, Mr. Chowdhry did not beneficially own any common shares in capital of the Companies. Following the Transaction Mr. Chowdhry beneficially owns 21,427,429 common shares in the capital of each of the Companies, representing, in each case, approximately 49.57% of the 43,224,651 common shares in the capital of each of the Companies issued and outstanding as of the date hereof.
The Mantra Shares were acquired for investment purposes. In accordance with applicable securities laws, Mr. Chowdhry may, from time to time and at any time, acquire additional equity, debt or other securities or instruments (collectively, "Securities") of the Companies in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities depending on market conditions, the business and prospects of each of the Companies and other relevant factors.
This news release is issued pursuant to NI 62-103 in connection with the filing of early warning reports (the "Early Warning Reports"). To obtain a copy of the Early Warning Reports filed by Mr. Chowdhry, refer to the Companies' SEDAR profiles at http://www.sedar.com.
On behalf of the Board of Directors of the Mantra Exploration
"Raj I. Chowdhry"
Chief Executive Officer
For further information, please contact:
Raj Chowdhry, Chief Executive Officer
Email: info@asiabasemetals.com
About Mantra Exploration Inc.
Mantra Exploration Inc. is a mineral exploration company which holds the Jean Project, a prospective iron ore exploration property located in the Thunder Bay Mining District of Northwestern Ontario, Canada.
On behalf of the Board of Directors of the Mantra Pharma
"Raj I. Chowdhry"
Chief Executive Officer
For further information, please contact:
Raj Chowdhry, Chief Executive Officer
Email: info@asiabasemetals.com
About Mantra Pharma Inc.
Mantra Pharma Inc. is a corporation focused on undertaking business activities in the medical cannabis sector in Croatia. Mantra Pharma has secured an office in a fully permitted building recently completed in the city of Biograd na Moru (the "City") in Dalmatia, Croatia, where-in a laboratory is being built by the City.
On behalf of the Board of Directors of the Mantra 2 Real Estate
"Raj I. Chowdhry"
Chief Executive Officer
For further information, please contact:
Raj Chowdhry, Chief Executive Officer
Email: info@asiabasemetals.com
About Mantra 2 Real Estate Inc.
Mantra 2 Real Estate Inc. is a corporation focused on undertaking business activities in the real estate development sector in Croatia, with the initial development plans for its 21,223 m2 property located adjacent to the oceanfront in Rogoznica Lozica, Croatia having been submitted for approval.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63212