TORONTO, Dec. 23, 2019 (GLOBE NEWSWIRE) -- Northfield Capital Corporation (“Northfield”) (TSX-V:NFD.A) announces that it has acquired ownership and control of 6,680,000 common shares (the “Common Shares”) and 6,680,000 share purchase warrants (the “Warrants”) of Murchison Minerals Ltd. (the “Company”) (MUR.V), Suite 2500, 120 Adelaide Street West, Toronto, Ontario, M5T 1T1 at a cost of $0.06 per unit (“Unit”), with each Unit consisting of one Common Share and one Warrant. The Common Shares and Warrants were acquired by Northfield through a private placement on December 12, 2019, representing approximately 10.3% of the issued and outstanding common shares of the Company as of such date immediately following such transaction (or approximately 18.7% calculated on a partially diluted basis assuming exercise of the Warrants only).
Upon completion of the transaction described above, Northfield owns and controls an aggregate of 6,880,000 common shares of the Company and convertible securities entitling Northfield to acquire an additional 6,680,000 common shares of the Company, representing approximately 10.6% of the issued and outstanding common shares of the Company as of December 12, 2019 immediately following the transaction described above (or approximately 19.0% assuming exercise of the convertible securities only).
The Common Shares and Warrants were acquired in a private placement transaction which did not take place through the facilities of any market for the Company’s securities. This transaction was effected for investment purposes and Northfield could increase or decrease their investments in the Company at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor. The Common Shares and Warrants were acquired for aggregate consideration of $400,800.00, pursuant to the exemption contained in Section 2.3 of National Instrument 45-106 on the basis that Northfield is an “accredited investor” as defined herein.
A copy of the applicable securities report filed in connection with the matters set forth above may be obtained by contacting:
141 Adelaide Street West, Suite 301
Toronto, Ontario M5H 3L5
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.