CALGARY, Alberta, June 18, 2020 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable securities laws, Nick Taylor announces that he, together with his spouse, have acquired an additional 3,000,000 common shares ("Common Shares") of Softrock Minerals Ltd. ("Softrock") on the exchange of Softrock’s outstanding convertible debentures ("Debentures") for Common Shares at a deemed price of $0.01 per Common Share. The 3,000,000 Common Shares were issued in exchange for Debentures held by Mr. Taylor and his spouse in the principal amount of $30,000.
Prior to acquiring the Common Shares, Mr. Taylor and his spouse held 3,411,665 Common Shares representing approximately 8.56% of the then outstanding Common Shares. As a result of the acquisition of the additional Common Shares, Mr. Taylor and his spouse now hold an aggregate of 6,411,665 Common Shares representing approximately 14.29% of the issued and outstanding Common Shares. Mr. Taylor also holds Common Share purchase warrants entitling him to acquire an additional 2,003,999 Common Shares representing approximately 4.47% of the currently outstanding Common Shares and options to purchase an aggregate of 600,000 Common Shares representing approximately 1.34% of the currently outstanding Common Shares. The Common Share purchase warrants and options are exercisable at a price of $0.05 per share.
The Common Shares were acquired for investment purposes only and not for the purpose of exercising control or direction over Softrock. Mr. Taylor or his spouse may from time to time acquire additional Common Shares, dispose of some or all of the existing or additional Common Shares or may continue to hold the Common Shares.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS PRESS RELEASE, PLEASE CONTACT:
443 East Chestermere Drive
Chestermere, Alberta T1X 1A3