Purchase of Shares of Bradda Head Lithium Ltd

Rhea-AI Summary

Galloway Limited announced the acquisition of 8,000,000 ordinary shares in Bradda Head Lithium Ltd. on April 13, 2023, at 4.5 pence per share (C$0.075). This purchase increases Galloway's ownership from 16.70% to 18.75% of the total issued shares, a rise of approximately 2.05%. Prior to the acquisition, Galloway, along with joint actors Burnbrae Group Limited, Jim Mellon, and Denham Eke, held a total of 65,221,311 shares. The shares were acquired for investment purposes, and Galloway may continue to buy or sell shares in the future. For further details, an early warning report will be filed under National Instrument 62-103 on the Company's SEDAR profile.

Positive

• Increase in ownership from 16.70% to 18.75% of issued shares, reflecting growing confidence in the company.

Negative

• None.

BRITISH VIRGIN ISLANDS / ACCESSWIRE / April 18, 2023 / Galloway Limited

Purchase of shares of Bradda Head Lithium Ltd. This press release is issued pursuant to National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Further to the press release issued by Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF) (the "Company") on April 14, 2023, Galloway Limited ("Galloway") announces that on April 13, 2023, it acquired 8,000,000 ordinary shares in the Company ("Shares") at 4.5 pence per share (equivalent to C$0.075, based on the Bank of Canada closing exchange rate on April 13, 2023 of £1:C$1.6731) (the "Share Purchase").

Immediately prior to the Share Purchase, Galloway, together with its joint actors, Burnbrae Group Limited, Jim Mellon (a director of the Company) and Denham Eke (a director of the Company), beneficially owned an aggregate of 65,221,311 Shares, representing 16.70% of the issued and outstanding Shares of the Company. Immediately following the Share Purchase, Galloway, together with its joint actors, beneficially owns an aggregate of 73,221,311 Shares representing 18.75% of the issued and outstanding Shares of the Company and an increase of approximately 2.05% of the issued and outstanding Shares (post the Share Purchase).

The securities were acquired for investment purposes. Galloway may, from time to time, acquire additional securities of the Company, dispose of some or all of the securities held, or may continue to hold its current position.

The address for service of the Company is located at 18 King Street East, Suite 902, Toronto, Ontario, M5C1C4, Canada.

The head office of Galloway is located at Viking House, Nelson Street, Douglas, Isle of Man, IM1 2AH.

A copy of the early warning report for Galloway will be filed pursuant to National Instrument 62-103 under the Company's profile on www.sedar.com. To obtain a copy of the early warning report filed in connection with this press release, please contact: Denham Eke (telephone number: +44 1624 639 396).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Bradda Head Lithium Limited

View source version on accesswire.com:
https://www.accesswire.com/749801/Purchase-of-Shares-of-Bradda-Head-Lithium-Ltd

FAQ

What did Galloway Limited announce on April 18, 2023 regarding Bradda Head Lithium Ltd.?

Galloway Limited announced the acquisition of 8,000,000 ordinary shares of Bradda Head Lithium Ltd. on April 13, 2023.

At what price did Galloway acquire shares of Bradda Head Lithium Ltd.?

Galloway acquired shares at 4.5 pence per share, equivalent to C$0.075.

What is the current ownership percentage of Galloway Limited in Bradda Head Lithium Ltd. after the purchase?

After the purchase, Galloway Limited owns 18.75% of Bradda Head Lithium Ltd.

What regulations was the press release issued under?

The press release was issued pursuant to National Instrument 62-104 and National Instrument 62-103.

Where can I find the early warning report filed by Galloway Limited?

The early warning report can be found on the Company's profile at www.sedar.com.