0730004 B.C. LTD. ANNOUNCES CLOSING OF PRIVATE PLACEMENTS
VANCOUVER, BRITISH COLUMBIA, CANADA, May 16, 2024 /EINPresswire.com/ -- 0730004 B.C. Ltd. (formerly, Diamond Hawk Mining Corp.) (the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement for aggregate gross proceeds of $100,000 (the “Offering”), consisting of (i) an offering of 17,251,124 common shares in the capital of the Company (the “Common Shares”) at a price of $0.0028 per Common Shares for gross proceeds of $50,000, and (ii) an offering of unsecured convertible debentures (the “Unsecured Debentures”) for gross proceeds of $50,000. Each Unsecured Debenture was issued in the principal amount of $1,000, bears interest at an annual rate of 10% payable in arrears in equal installments semi-annually, and matures on the date that is 24 months from the closing of the Offering.
The Offering was completed pursuant to the partial revocation orders issued on March 19, 2024 by the British Columbia Securities Commission (the “Partial Revocation Order”), as previously announced in the Company’s press release dated March 20, 2024. The proceeds of the Offering will be applied towards, among other things, the following (i) accounting, audit and legal fees associated with the preparation and filing of the relevant continuous disclosure documents; (ii) filing fees associated with obtaining the Partial Revocation Orders and the full revocation order; and (iii) legacy accounts payable, including accounting and legal fees, consulting fees and outstanding transfer agent fees. Completion of the Offering will allow the Company to prepare and file all outstanding continuous disclosure documents with the applicable regulatory authorities. Once those filings have been completed, the Company expects to apply for a full revocation of the cease trade orders (the “Cease Trade Orders”).
The Offering was conducted on a prospectus exempt basis with a subscriber in Ontario, who satisfy the requirements of section 2.3 of National Instrument 45-106 - Prospectus Exemptions. All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the closing of the Offering, in accordance with applicable securities legislation.
Early Warning Report
In connection with the Offering, Canadian Shield Holding & Consulting Inc. (“Canadian Shield”) a company located in Milton, Ontario has acquired ownership over (i) an aggregate of 17,251,124 Common Shares representing approximately 17.64% of the issued and outstanding Common Shares (on a non-diluted basis); and (ii) $50,000 in principal amount of Unsecured Debentures convertible into 17,251,124 Common Shares, representing, together with the 17,251,124 Common Shares, approximately 30.73% of the issued and outstanding Common Shares (on a partially diluted basis). Prior to the Offering, Canadian Shield did not own any of the Company’s securities.
Canadian Shield acquired these securities for investment purposes. While Canadian Shield currently has no plans or intentions with respect to the Company’s securities, depending on market conditions, general economic and industry conditions, the Company’s business, financial condition and prospects and/or other relevant factors, each may from time to time increase or decrease its ownership, control or direction over securities of the Company through market transactions, private agreements or otherwise.
For the purpose of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, copies of the respective early warning reports that will be filed by Canadian Shield may be obtained on the Company’s SEDAR+ profile or by contacting Grant Duthie at 416-869-1234.
About 0730004 B.C. Ltd.
0730004 B.C. Ltd. is a reporting issuer in British Columbia, and Alberta that is seeking to develop or acquire viable commercial assets.
On behalf of the Board of Directors
0730004 B.C. Ltd.
Virginia Ng
Chief Executive Officer, Chief Financial Officer and Director
E: Vng2@live.ca
Notice Regarding Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “will”, “allow”, “expect”, “may” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the expectations and assumptions concerning the use of net proceeds from the Offering, as well as the application for, and receipt of a full revocation of the Cease Trade Orders. Forward-looking statements address future events and conditions and therefore involve inherent risk and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
The Offering was completed pursuant to the partial revocation orders issued on March 19, 2024 by the British Columbia Securities Commission (the “Partial Revocation Order”), as previously announced in the Company’s press release dated March 20, 2024. The proceeds of the Offering will be applied towards, among other things, the following (i) accounting, audit and legal fees associated with the preparation and filing of the relevant continuous disclosure documents; (ii) filing fees associated with obtaining the Partial Revocation Orders and the full revocation order; and (iii) legacy accounts payable, including accounting and legal fees, consulting fees and outstanding transfer agent fees. Completion of the Offering will allow the Company to prepare and file all outstanding continuous disclosure documents with the applicable regulatory authorities. Once those filings have been completed, the Company expects to apply for a full revocation of the cease trade orders (the “Cease Trade Orders”).
The Offering was conducted on a prospectus exempt basis with a subscriber in Ontario, who satisfy the requirements of section 2.3 of National Instrument 45-106 - Prospectus Exemptions. All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the closing of the Offering, in accordance with applicable securities legislation.
Early Warning Report
In connection with the Offering, Canadian Shield Holding & Consulting Inc. (“Canadian Shield”) a company located in Milton, Ontario has acquired ownership over (i) an aggregate of 17,251,124 Common Shares representing approximately 17.64% of the issued and outstanding Common Shares (on a non-diluted basis); and (ii) $50,000 in principal amount of Unsecured Debentures convertible into 17,251,124 Common Shares, representing, together with the 17,251,124 Common Shares, approximately 30.73% of the issued and outstanding Common Shares (on a partially diluted basis). Prior to the Offering, Canadian Shield did not own any of the Company’s securities.
Canadian Shield acquired these securities for investment purposes. While Canadian Shield currently has no plans or intentions with respect to the Company’s securities, depending on market conditions, general economic and industry conditions, the Company’s business, financial condition and prospects and/or other relevant factors, each may from time to time increase or decrease its ownership, control or direction over securities of the Company through market transactions, private agreements or otherwise.
For the purpose of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, copies of the respective early warning reports that will be filed by Canadian Shield may be obtained on the Company’s SEDAR+ profile or by contacting Grant Duthie at 416-869-1234.
About 0730004 B.C. Ltd.
0730004 B.C. Ltd. is a reporting issuer in British Columbia, and Alberta that is seeking to develop or acquire viable commercial assets.
On behalf of the Board of Directors
0730004 B.C. Ltd.
Virginia Ng
Chief Executive Officer, Chief Financial Officer and Director
E: Vng2@live.ca
Notice Regarding Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “will”, “allow”, “expect”, “may” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the expectations and assumptions concerning the use of net proceeds from the Offering, as well as the application for, and receipt of a full revocation of the Cease Trade Orders. Forward-looking statements address future events and conditions and therefore involve inherent risk and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
Virginia Ng
0730004 B.C. Ltd.
Vng2@live.ca
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