TORONTO, Dec. 13, 2019 /CNW/ - Donald K. Johnson, an insider of
Murchison Minerals Ltd. (TSXV: MUR) (the "Issuer")
today announced the acquisition on December
12, 2019 of 3,962,667 common share units
("Units") of the Issuer pursuant to the private
placement of the Issuer disclosed in the Issuer's press release
dated December 12, 2019 and filed on
SEDAR (www.sedar.com). Each Unit consisted of one common
share of the Issuer and one common share purchase warrant of the
Issuer, each warrant entitling the holder to acquire one additional
common share until December 12, 2020
at an exercise price of $0.10 per
share.
The Units were purchased at a price of $0.06 per Unit for
total consideration of $237,760.02. The common shares
acquired by Mr. Johnson represent approximately 6.1% of the
issued and outstanding common shares of the Issuer after the
private placement.
Prior to this acquisition, Mr. Johnson directly and indirectly
owned 16,124,495 common shares of the Issuer,
representing approximately 33.3% of the issued and
outstanding common shares of the Issuer
(18,391,295 common shares and 36.3%,
respectively, assuming the exercise of the convertible
securities described below). After the completion of the
private placement, Mr. Johnson now directly and indirectly
owns 20,087,162 common shares representing approximately
31.05% of the issued and outstanding common shares, together
with options and warrants to acquire an aggregate of
6,102,667 common shares of the Issuer. If Mr. Johnson
were to exercise these convertible securities, he would own,
directly and indirectly, 26,189,829 common shares of the
Issuer, representing approximately 40.5% of the Issuer's
outstanding common shares, on a partially diluted basis.
The common shares were acquired for investment
purposes. Mr. Johnson may, from time to time,
depending on market and other conditions, increase or decrease
his beneficial ownership, control or direction over securities
of the Issuer through market transactions, private agreements
or otherwise.
This press release is being issued pursuant to National
Instrument 62-103 – The Early Warning System
and Related Take-Over Bid and Insider Reporting Issues
which requires a report to be filed under the Issuer's profile
on SEDAR (www.sedar.com) containing additional information
respecting the foregoing matters.
SOURCE Donald K. Johnson
