Chris Irwin

October 18, 2013 16:00 ET

Early Warning News Release of Mr. Chris Irwin, President of Mag Copper Inc.

TORONTO, ONTARIO--(Marketwired - Oct. 18, 2013) - Chris Irwin, of Toronto, Ontario, a director and officer of Mag Copper Inc. ("Mag Copper" of the "Company"), announces that he has acquired ownership and control of 2,289,500 common shares of Mag Copper in a private transaction. Prior to this acquisition, Mr. Irwin held, directly and indirectly, an aggregate of 4,459,734 common shares of Mag Copper.

There are currently approximately 66,018,628 common shares of Mag Copper issued and outstanding. Mr. Irwin has ownership and/or control and direction over, an aggregate (both directly and indirectly) of 6,749,234 common shares of the Company on an undiluted basis, representing 10.22% of the issued and outstanding common shares of the Company. Mr. Irwin owns and/or exercises control or direction over warrants entitling the purchase of an aggregate 192,742 common shares of Mag Copper and 700,000 options of Mag Copper exercisable into common shares. Assuming the exercises of convertible securities Mr. Irwin would own and/or exercise control or direction over, an aggregate total of 7,641,976 common shares or approximately 11.57% of the issued and outstanding common shares of the Company on a partially diluted basis.

Mr. Irwin acquired the securities for investment purposes and he may make additional investment in or dispositions of securities of the Company, depending on price, availability and general market conditions.

A copy of the Early Warning Report filed under applicable Canadian provincial securities legislation in connection with Mr. Irwin's shareholdings in Mag Copper may be found at www.sedar.com under Mag Copper's profile.

Contact Information

  • Chris Irwin
    (416) 361-2516
    106 Hilton Avenue
    Toronto, ON M5R 3E7