LA MACAZA, QUÉBEC--(Marketwire - May 2, 2011) - Georges-Yvan Gagnon ("Gagnon"), of 154 chemin des Cascades, La Macaza, Québec, J0T 1R0, announced today pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues in Quebec) that on April 15, 2011, he acquired ownership and control of 544,000 common shares of Augyva Mining Resources Inc. ("Augyva") (representing 0.91% of Augyva's outstanding common shares) upon the exercise of 544,000 common share purchase warrants of Augyva (the "Warrants"), in accordance with the terms and conditions of the Warrants and at an exercise price of $0.45 per Warrant, for a total purchase price of $244,800.
Further to the exercise of the Warrants, Gagnon directly owns 6,345,170 common shares of Augyva (representing 10.57% of Augyva's outstanding common shares) and 544,000 common share purchase warrants of Augyva exercisable to acquire 544,000 common shares of Augyva (representing 3.89% of Augyva's outstanding warrants). He directly and indirectly owns 6,735,320 common shares of Augyva (representing 11.22% of Augyva's outstanding common shares) and 544,000 common share purchase warrants of Augyva exercisable to acquire 544,000 common shares of Augyva (representing 3.89% of Augyva's outstanding warrants).
The acquisition of 544,000 common shares was carried out in accordance with and in reliance on the "Conversion, exchange, or exercise" exemption in section 2.42 of National Instrument 45-106 – Prospectus and Registration Exemptions (Regulation 45-106 respecting Prospectus and Registration Exemptions in Quebec) which has been adopted by the securities regulatory authorities in all jurisdictions of Canada and which exempts the transfer and issue of such securities from the prospectus requirements of applicable securities laws.
The securities of Augyva are held by Gagnon for investment purposes. Gagnon expects to review from time to time his investment in Augyva and may, depending on the market and other conditions: (i) acquire securities or related financial instruments of Augyva in the open market, in privately negotiated transactions or otherwise, and/or (ii) dispose of all or a portion of the securities or related financial instruments of Augyva over which he now or hereafter exercises, or may be deemed to exercise, control or direction, or owns.
The issuance of this news release is not an admission that any entity named herein owns or controls any described securities or is a joint actor with another named entity.
Additional information is provided in the early warning report filed on www.sedar.com by Gagnon.
Contact Information:
Georges-Yvan Gagnon
819-275-1614