Credipresto S.A. de C.V. SOFOM E.N.R.

April 26, 2017 15:38 ET

Credipresto S.A. de C.V. SOFOM E.N.R. Announces Acquisition of Convertible Debentures and Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 26, 2017) - Credipresto S.A. de C.V. SOFOM E.N.R. ("Credipresto"), of San Jerónimo 595-401 Col. Tizapán San Angel, México D.F. CP. 01090, announces that it has acquired ownership and control of secured convertible debentures of Dynasty Metals & Mining Inc. ("Dynasty") in the aggregate principal amount of US$500,000 (the "Debenture") pursuant to a non-brokered private placement (the "Private Placement"). The principal amount of the Debenture is convertible on or before April 25, 2019 at the option of the holder into common shares of Dynasty (the "Common Shares") at a price of CAD$0.26 per Common Share, based on a Canadian dollar/US dollar exchange rate of 1.3516. An aggregate of up to 2,599,231 Common Shares are issuable by Dynasty on conversion of the Debenture, representing approximately 2.96% of the issued and outstanding Common Shares on completion of the Private Placement ("Closing").

In connection with the Private Placement, Dynasty issued to Credipresto warrants to purchase 250,000 Common Shares (the "Warrants") in lieu of a cash corporate finance fee. Each Warrant will entitle the holder thereof to acquire one additional Common Share at a price of CAD$0.35 per Common Share for a period of two (2) years from the date of issuance. An aggregate of up to 250,000 Common Shares are issuable by Dynasty on exercise of the Warrants, representing approximately 0.28% of the issued and outstanding Common Shares on Closing.

Immediately prior to Closing, Credipresto had ownership and control over 4,374,666 Common Shares, representing approximately 4.98% of the issued and outstanding Common Shares, ownership and control over secured convertible debentures of Dynasty in the aggregate principal amount of US$1,500,000 (the "Existing Debentures") and ownership and control over warrants to purchase 750,000 Common Shares (the "Existing Warrants"). An aggregate of up to 7,906,000 Common Shares are issuable by Dynasty on conversion of the Existing Debentures, representing approximately 9.00% of the issued and outstanding Common Shares. An aggregate of up to 750,000 Common Shares are issuable by Dynasty on conversion of the Existing Warrants, representing approximately 0.85% of the issued and outstanding Common Shares. Credipresto did not have ownership or control over any other securities of Dynasty.

Assuming the conversion of the entire principal amount of the Existing Debentures, Credipresto would have ownership and control over 12,280,666 Common Shares, or approximately 12.83% of the then issued and outstanding Common Shares. Assuming the exercise of all of the Existing Warrants, Credipresto would have ownership and control over 5,124,666 Common Shares, or approximately 5.79% of the then issued and outstanding Common Shares. Assuming the conversion of the entire principal amount of the Debenture, Credipresto would have ownership and control over 6,973,897 Common Shares, or approximately 7.71% of the then issued and outstanding Common Shares. Assuming the exercise of all of the Warrants, Credipresto would have ownership and control over 4,624,666 Common Shares, or approximately 5.25% of the then issued and outstanding Common Shares. Assuming the conversion of the entire principal amount of the Existing Debentures and the Debenture and the exercise of all of the Existing Warrants and the Warrants, Credipresto would have ownership and control over 15,879,897 Common Shares, or approximately 15.99% of the then issued and outstanding Common Shares.

Credipresto acquired the Debenture and the Warrants for investment purposes only, and will review its investment on an ongoing basis. Upon such review, depending upon such factors that Credipresto may, from time to time, deem relevant, Credipresto may, among other things, acquire additional securities of Dynasty or dispose of some or all of the existing or additional securities Credipresto holds or will hold, directly or indirectly.

Credipresto is issuing this news release pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Requirements. A copy of the related early warning report (the "Report") will be issued and filed by Credipresto on the SEDAR website at www.sedar.com under Dynasty's profile. Dynasty's head office is located at Suite 1502 - 1166 Alberni Street, Vancouver, British Columbia, Canada, V6E 3Z3. For further information or to obtain a copy of the Report, please contact Sam Wong, Chief Financial Officer of Dynasty, at +1 (604) 345-4822.

Contact Information

  • Dynasty Metals & Mining Inc.
    Sam Wong
    Chief Financial Officer
    +1 (604) 345-4822