VICTORIA , Oct. 7, 2019 /CNW/ - Howard James Coyne announces that following his purchase of 41,000 common shares of Copper North Mining Corp on 29th December 2017 at $0.075 for a total purchase price of CAD 3,075 through the facilities of the TSX Venture Exchange he had direct and controlled holdings of 7,087,404 Common Shares and 775,000 warrants. This holding represented 9.04% and 10.03% of the common shares of the Issuer respectively based on the 78,357,973 then outstanding.
Subsequent to this date through two controlled companies a series of individual market trades were executed between 10th January 2018 and 9th April 2019 at between $0.09 and $0.035 representing in aggregate 5,335,980 common shares
As a result of these transactions he directly or indirectly holds 12,423,384 Common shares of the Issuer and 775,000 warrants, representing approximately 14.5% pre and 15.4% post exercise of the 85,900,413 issued and outstanding common shares.
As a result of inadvertence on the part of Mr Howard Coyne and due to unfamiliarity with Canadian securities laws, news releases and early warning reports required by applicable securities legislation to be filed for the above, were not undertaken at the time.
Howard Coyne has acquired the Common Shares of the Issuer for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over the Common Shares or other securities of Copper North Mining Corp, through market transactions, private agreements, exercise of convertible securities or otherwise.
An early warning report reflecting the above-noted acquisitions of Common shares has now been filed, a copy of which has been sent to the company and is available on SEDAR at www.sedar.com.
In accordance with applicable securities legislation, Mr Howard James Coyne has filed insider trading reports via the System for Electronic Disclosure by Insiders (SEDI) for all transactions involving Common Shares during the period in which he has been an insider of the company.
For further information regarding this news release and to request a copy of the early warning report, please contact Howard Coyne at 14 Macdonald Road, Whitehorse , Y1A 4L2.
Copper North Mining Corp is listed on the TSX Ventures Exchange ("COL") and has its head office at Suite 112-1095 West Pender Street, Vancouver, British Columbia V6E 2M6.
SOURCE Copper North Mining Corp.
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