CALGARY, Alberta, June 18, 2020 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable securities laws, Stuart McDowall announces that he has acquired an additional 2,000,000 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 2,000,000 Common Shares were issued in exchange for Debentures in the principal amount of $20,000.
Prior to acquiring the Common Shares, Mr. McDowall held 4,542,000 Common Shares representing approximately 11.40% of the then outstanding Common Shares. As a result of the acquisition of the additional Common Shares, Mr. McDowall now holds an aggregate of 6,542,000 Common Shares representing approximately 14.59% of the issued and outstanding Common Shares. Mr. McDowall also holds Common Share purchase warrants entitling him to acquire an additional 2,554,000 Common Shares representing approximately 5.69% 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. McDowall 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:
#405, 1732 9A Street S.W.
Calgary, Alberta T2T 3E6