Prophecy Development Corp (2) Symbol C : PCY Shares Issued 5,389,248 Close 2017-09-26 C$ 4.08 Recent Sedar Documents View Original Document
Prophecy chairman Lee acquires stock options, warrants
2017-09-26 17:51 ET - News Release
Mr. John Lee reports
EARLY WARNING REPORT
John Lee, of Suite 1301, 12 Harcourt Rd., Central, Hong Kong, executive chairman of Prophecy Development Corp., acquired the following securities of the company:
68,000 options on Sept. 1, 2017; 100,000 special warrants (each convertible, upon shareholder approval, into one unit comprising one common share and one-half of one warrant) via private placement on Sept. 20, 2017.
Prior to the transactions, Mr. Lee beneficially owned 1,058,081 shares, representing approximately 19.63 per cent of the issued and outstanding shares of the company at the time, and zero special warrants.
As a result of the transactions, Mr. Lee beneficially owns and exercises control over an aggregate of 1,058,081 shares, representing an interest of approximately 17.47 per cent of the company's currently issued and outstanding shares, and 26.26 per cent of the company's shares on a fully diluted basis assuming the conversion of all of the company's special warrants, and exercise of all of the company's outstanding options and share purchase warrants.
The securities were acquired by Mr. Lee for investment purposes only, and not for purposes of exercising control or direction over the company.
Generally, Mr. Lee intends to evaluate his investment in the company, and to increase or decrease his shareholdings as circumstances require, depending on market conditions and other factors, through market transactions, private agreements or otherwise.
The information contained in this news release has been provided by Mr. Lee, and the company is not responsible for its accuracy.
A copy of the early warning report pursuant to National Instrument 62-103 required to be filed with the applicable securities commissions in connection with the acquisition of the shares described in this news release will be available for viewing under the company's profile on SEDAR. A copy of the early warning report can also be obtained from the contact number for investor relations.
About Prophecy Development Corp.
Prophecy Development is a Canadian public company listed on the Toronto Stock Exchange. The company aims to provide exposure and leverage to rising vanadium prices by defining and adding attributable vanadium resources in the ground in politically safe jurisdictions.
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