VANCOUVER, British Columbia, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 ? 625 Howe Street, Vancouver, British Columbia, V6C 2T6, announces that today he acquired ownership of 625,000 units ("Units") of MTB Minerals Corp., a company with a head office at Suite 410 - 325 Howe Street, Vancouver, BC V6C 1Z7 (the "Issuer"), at a price of $0.16 per Unit for an aggregate purchase price of $100,000 (the "Acquisition"). Each Unit is comprised of one common share in the authorized share structure of the Issuer (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Mr. Beaty acquired ownership of the Units through a private placement previously announced by the Issuer on September 5, 2023. In addition, between September 7, 2023 and September 12, 2023 Mr. Beaty disposed of 1,000,000 Common Shares through the facilities of the TSX Venture Exchange (together with the Acquisition, the "Transactions").
Prior to the Transactions, Mr. Beaty owned, directly or indirectly, or exercised control or direction over, 8,333,334 Common Shares and 8,333,334 Warrants. The 8,333,334 Common Shares represented approximately 7.78% of the issued and outstanding Common Shares. If all of the Warrants held by Mr. Beaty were exercised, Mr. Beaty would have owned, directly or indirectly, or exercise control or direction over, approximately 14.45% of the issued and outstanding Common Shares on a partially diluted basis.
After completion of the Transactions, Mr. Beaty now owns directly or indirectly, or exercises control or direction over, 7,958,334 Common Shares and 8,958,334 Warrants. The 7,958,334 Common Shares represent approximately 7.02% of the issued and outstanding Common Shares. If all of the Warrants held by Mr. Beaty were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 13.83% of the issued and outstanding Common Shares on a partially diluted basis.
The Transactions were conducted for investment purposes. In accordance with applicable securities laws, Mr. Beaty may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Issuer 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, the whole depending on market conditions, the business and prospects of the Issuer and other relevant factors.
Other than the subscription agreement for the purchase of the Units, Mr. Beaty is not currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of the Issuer.
A copy of the Early Warning Report filed under applicable securities laws is available under the Issuer's profile on SEDAR (www.sedar.com).
For more information, or to obtain a copy of the subject early warning report, please contact:
Ross J. Beaty
1550 ? 625 Howe Street
Vancouver, British Columbia
Telephone: (604) 806-3173
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