Early Warning Press Release Regarding Securities of Gold Springs Resource Corp.

Rhea-AI Summary

Antonio Canton announced ownership of 30,181,480 common shares of Gold Springs Resource Corp. after acquiring 24,854,288 shares at CAD$0.11 each for CAD$2,733,971 on May 6, 2021. This purchase represents 9.96% of the company's outstanding shares, increasing his total stake to 12.10% on a non-diluted basis and 14.03% on a partially-diluted basis. Mr. Canton, an active director for over 10 years, intends to hold his shares for investment purposes and is open to acquiring more in the future.

Positive

• Acquisition of 24,854,288 shares signals investor confidence, increasing total ownership to 30,181,480 shares.
• Canton's experience and involvement in prior successful negotiations suggest stability and experience in management.

Negative

• None.

NYON, SWITZERLAND / ACCESSWIRE / May 7, 2021 / Antonio Canton reports that he owns and controls 30,181,480 common shares (the "Common Shares") of Gold Springs Resource Corp. (the "Company") of Suite 880 - 580 Hornby Street, Vancouver, British Columbia, V6C 3B6, following the completion of private purchase and sale transactions on May 6, 2021 (the "Transaction"), whereby Mr. Canton acquired 24,854,288 Common Shares at a price of CAD$0.11 per share for a purchase price of CAD$2,733,971. The 24,854,288 Acquired Shares represent 9.96% of the Company's 249,448,164 currently issued and outstanding Common Shares. Prior to the Transactions, Mr. Canton owned and controlled 5,327,192 Common Shares and held stock options and warrants of the Company entitling him to acquire 5,600,000 Common Shares representing 4.28% of the issued and outstanding Common Shares on a partially-diluted basis. After the Transactions, Mr. Canton owns and controls 30,181,480 Common Shares and stock options and warrants entitling him to acquire 5,600,000 Common Shares, representing 12.10% of the issued and outstanding Common Shares on a non-diluted basis and 14.03% on a partially-diluted basis. Mr. Canton advises that his acquisition of the Acquired Shares is for investment purposes only. He has no current intention to dispose of any securities of the Company and may acquire additional securities in the future.

Mr. Canton has been an active director of the Company for more than 10 years. He was instrumental in negotiating the merger between South American Silver Corp. and High Desert Gold Corp. that resulted in the Company acquiring the Gold Springs Project. Together with management of the Company, he negotiated the settlement agreement with the Government of Bolivia to settle SAC's international arbitration against Bolivia for the 2012 expropriation of the Malku Khota project. Most recently, he was instrumental in structuring the Non-Equity Financing Structure of up to US$20 Million to Fund exclusively Drilling Programs at Gold Springs.

A copy of the corresponding report required by the early warning requirements can be obtained by contacting Mr. Canton at +41229792577.

SOURCE: Antonio Canton

View source version on accesswire.com:
https://www.accesswire.com/645666/Early-Warning-Press-Release-Regarding-Securities-of-Gold-Springs-Resource-Corp

FAQ

What did Antonio Canton announce regarding Gold Springs Resource Corp. on May 7, 2021?

Antonio Canton reported the acquisition of 24,854,288 common shares, raising his ownership to 30,181,480 shares.

How much did Antonio Canton pay for the shares of Gold Springs Resource Corp.?

Antonio Canton acquired the shares at a price of CAD$0.11 each for a total of CAD$2,733,971.

What percentage of Gold Springs Resource Corp. does Antonio Canton own after the transaction?

After the transaction, Antonio Canton owns 12.10% of the company on a non-diluted basis and 14.03% on a partially-diluted basis.

What is the significance of Antonio Canton’s acquisition for Gold Springs Resource Corp. investors?

Canton's acquisition reflects his confidence in the company, potentially reassuring investors about its future prospects.