David Lyall

September 17, 2014 19:48 ET

David Lyall Acquires Shares of International Tungsten Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 17, 2014) - 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.

On July 18, 2014, David Lyall of Suite 700, 200 Burrard Street, Vancouver, British Columbia, purchased by subscription at a per share price of $0.05 under a non-brokered private placement offering 2,000,000 common shares of International Tungsten Inc. (the "Issuer"), which then represented approximately 24.47% of the Issuer's then issued and outstanding common shares. These are the only securities of the Issuer that Mr. Lyall owns, or over which he exercises control or direction, which represent approximately 19.55% of the Issuer's issued and outstanding common shares as of the date of this release. Mr. Lyall is making this disclosure immediately upon his becoming aware of his security position with the Issuer, prior to which he had been under the misapprehension that significantly more shares were being issued by the Issuer under the private placement offering in which he participated, such that he would not have triggered the obligation to file early warning reporting in accordance with applicable securities legislation. Securities of the Issuer were acquired for investment purposes by Mr. Lyall, who has no present intention to acquire ownership of, or control over, additional securities of the Issuer.

A report respecting this acquisition will be electronically filed with the Securities Commissions in each jurisdiction where the Issuer is reporting and will be available for viewing through the Internet at the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

(signed) "David Lyall"

Contact Information

  • David Lyall
    604-697-7406