TORONTO, ONTARIO--(Marketwired - Oct. 17, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES
Lisa Arbuckle reports that she has acquired control over convertible secured debentures in a principal aggregate amount of Cdn. $300,000 (collectively, the "Debenture") issued by Minera Alamos Inc. ("Minera Alamos" or the "Company") in replacement of existing matured convertible debentures of $300,000, as announced by the Company on September 23, 2014 and August 20, 2014. Ms. Arbuckle has ownership and control over 305,858 common shares ("Shares") of the Company, representing approximately 4.74% of the issued and outstanding Shares of the Company.
The Debenture matures on August 1, 2017, bears interest at a rate of 8% per annum and the principal amount thereof is convertible into units of the Company at a conversion price equal of $0.20 per unit at any time up to the maturity date. Each unit is comprised of one Share of the Company and one half-Share purchase warrant. Each warrant is exercisable into one Share at a price of $0.25 per Share until the maturity of the Debenture.
Assuming full conversion of the Debenture, Ms. Arbuckle would acquire ownership and control over 1,805,858 Shares of the Company (including the 305,858 Shares referenced above) and warrants exercisable into an additional 750,000 Shares of the Company. These combined holdings would represent approximately 19.4% of the outstanding Shares of the Company on a fully diluted basis. Pursuant to the terms of the Debenture and until the maturity date, Ms. Arbuckle may not convert into units the value of the Debenture that would result in her holding more than 19.9% of the voting rights attached to the Shares without the written consent of the Company. In addition, Ms. Arbuckle's holdings for purposes of such calculation are deemed to include the Shares held by her husband, Darren Koningen, who is a Director of the Company.
The Shares were acquired by Ms. Arbuckle for investment purposes only and not with a view to materially affect control of the Company. Ms. Arbuckle may from time to time acquire additional securities of the Company, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold her current position.
A copy of the Early Warning Report filed by Lisa Arbuckle may be obtained via SEDAR (www.SEDAR.com).
Contact Information:
(416) 306-0990