Early Warning Notice Regarding 79 Resources Limited
This press release is issued pursuant to Multilateral Instrument 62-104, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.Ryan Kalt reports that he has acquired, on an indirect basis and in the aggregate, a total of 1,368,000 common shares (the "Acquired Shares") of 79 Resources Ltd. (CSE:SNR) ("79 Resources" or the "Issuer") with aggregate cash consideration paid of approximately $31,225, and such acquisitions made by way of open-market purchases through facilities of the CSE (or other domestic exchange) for a period ended at market close on October 12, 2023 (the "Acquisition Period"). Mr. Kalt further advises that for purposes of this news release he acquired, in combination with the Acquired Shares, a direct total of 900,000 common share stock options granted by the Issuer on June 27, 2023 having an exercise price of $0.05 per common share stock option (the "Acquired Options"), which if exercised and when now combined with the Acquired Shares, together represent approximately 2.22% of the currently issued common shares of the Issuer.
As a result of the foregoing, Mr. Kalt has made the filing noted herein.
As at the date hereof, Mr. Kalt now holds, on an combined direct and indirect basis, the aggregate current total of 82,725,000 common shares of 79 Resources, representing approximately 80.96% of the Issuer's presently issued and outstanding common shares, and in addition to the forgoing, a further 1,600,000 common share stock options, which if fully exercised, would represent 1,600,000 common shares being approximately 1.57% of the Issuer, and so together numerically constituting approximately 82.52% of the Issuer as now comprised.
Mr. Kalt is the Chairman and Chief Executive Officer of the Issuer.
The shares were acquired by Mr. Kalt for investment purposes. Mr. Kalt may acquire additional securities of the Issuer either on the open market or through private acquisitions or sell securities of the Issuer either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Other than the foregoing, Mr. Kalt does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.
"Ryan Kalt"
Ryan Kalt
The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from SEDAR+ at www.sedarplus.ca. In the alternate, to obtain a copy of the report, please contact Mr. Kalt at 1.403.454.2984.
The CSE has not reviewed, approved or disapproved the contents of this press release.