VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 22, 2017) - Robert Yurchevich announced today that he has acquired indirect ownership and control of 458,000 common shares (the "Shares") of Blackhawk Resource Corp. (the "Issuer"), representing approximately 1.11% of the issued and outstanding Shares of the Issuer.
Immediately prior to this acquisition, Mr. Yurchevich had indirect ownership and control of 4,114,000 Shares of the Issuer, representing approximately 9.99% of the issued and outstanding Shares of the Issuer. As a result of this acquisition, Mr. Yurchevich has indirect ownership and control over 4,572,000 Shares of the Issuer, representing approximately 11.10% of the issued and outstanding Shares of the Issuer. Mr. Yurchevich owns such Shares indirectly through GenPar (EC4 LP) Holdings Ltd., a corporation controlled by him.
The Shares were acquired through the facilities of the TSX Venture Exchange at a price of $0.065 per Share for total consideration of $29,770.
The Shares were acquired for investment purposes. Mr. Yurchevich will review his investment on an ongoing basis and, depending upon such factors that he may, from time to time, deem relevant, he, may, including through any joint actors, among other things: (i) acquire additional securities of the Issuer; (ii) dispose of some or all of the existing or additional securities of the Issuer he holds or will hold; (iii) engage in discussions with representatives of the Issuer concerning, among other things, the Issuer's business plans, and/or the composition of its board of directors and/or management; (iv) seek to appoint nominees to the board of directors of the Issuer or otherwise influence the composition of the board of directors and/or management of the Issuer; (v) pursue an acquisition, merger or similar transaction involving the Issuer; and/or (vi) take such other actions with respect to the Issuer as Mr. Yurchevich may, from time to time, determine appropriate.
All percentages disclosed herein relating to Mr. Yurchevich's proportionate ownership and control of the issued and outstanding Shares of the Issuer are based on the number of issued and outstanding Shares disclosed in the Issuer's Management's Discussion and Analysis for the year ended December 31, 2016, being 41,196,374 Shares.
The Issuer's head office is located at Suite 650, 816 - 7 Avenue SW, Calgary, Alberta T2P 1A1.
This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of an early warning report filed by Mr. Yurchevich in connection with such requirements is available under the Issuer's profile at www.sedar.com. Please refer to such report for further information regarding the transaction described in this press release.