Toronto, Ontario--(Newsfile Corp. - May 31, 2018) - Paul H. Stephens (the "Offeror" or "Stephens") announces that he has acquired (the "Acquisition") 172,500 common shares (the "Common Shares") of Boreal Metals Corp. (the "Issuer" or "Boreal") (representing approximately 0.33% of the outstanding Common Shares). The Common Shares were acquired through the facilities of the TSX Venture Exchange at a price of Cdn.$0.1502 per Common Share, for a total acquisition cost of C$25,909.50.
Prior to the completion of the Acquisition, Stephens owned, or controlled or directed, 5,213,000 Common Shares, representing approximately 9.87% of the issued and outstanding Common Shares. Immediately following completion of the Acquisition, the Offeror owned directly or indirectly, an aggregate of 5,385,500 Common Shares representing approximately 10.2% of the outstanding Common Shares. The Acquisition of the Common Shares increased Stephens' percentage interest in Boreal from approximately 9.87% to 10.2% of issued and outstanding Common Shares.
Stephens has a long-term view of the investment and may acquire additional securities of Boreal either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. However Stephens does not currently have plans or intentions to acquire or dispose of any common shares or other securities of the Issuer.
The Issuer's head office is located at 340 - 233 West 1st Street, North Vancouver, British Columbia V7M 1B3.
A copy of an "Early Warning Report" filed with the applicable Canadian securities regulatory authorities will be available under Boreal's profile at www.sedar.com and may also be obtained by contacting Stephens at (415) 677-5440 or at One Ferry Building, Suite 255, San Francisco, CA 94111.