VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 23, 2015) - Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on March 23, 2015 he acquired ownership of 28,000,000 units (the "Units") of Savary Gold Corp. (the "Corporation") at a purchase price of CDN$0.05 per Unit for an aggregate purchase price of CDN$1,400,000. Each Unit is comprised of one common share in the capital of the Corporation (a "Common Share") and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant is exercisable into one Common Share for a period of 36 months from issuance at an exercise price of CDN$0.08. Mr. Beaty acquired ownership through a private placement transaction in reliance on the accredited investor exemption set out in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions.
Mr. Beaty owns 28,000,000 Common Shares and 14,000,000 Warrants. The 28,000,000 Common Shares represent approximately 19.9% of the total number of issued and outstanding Common Shares. If all of Mr. Beaty's Warrants were exercised, Mr. Beaty would own approximately 27.2% of the then issued and outstanding Common Shares.
Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Savary Gold Corp. for investment purposes.