Raj Chowdhry

October 06, 2017 14:57 ET

Raj Chowdhry Announces Holdings in AsiaBaseMetals Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 6, 2017) - Raj Chowdhry announces his holdings in AsiaBaseMetals Inc. ("AsiaBaseMetals" or the "Company") (TSX VENTURE:ABZ) pursuant to the early warning requirements of applicable securities laws in Canada. Raj Chowdhry sold 200,000 common shares in the capital of the Company (the "Shares") through the facilities of the TSX Venture Exchange. Immediately after the sale of the Shares, which settled on October 5, 2017, Mr. Chowdhry held 11,695,730 common shares in the capital of the Company, which represents 48.46% of the Company's 24,133,685 issued and outstanding common shares on a non-diluted basis or 48.89% of the Company's issued and outstanding common shares on a partially-diluted basis assuming the exercise of Mr. Chowdhry's incentive stock options only. Immediately before the sale of the Shares, Mr. Chowdhry beneficially owned and controlled a total of 11,895,730 common shares in the capital of the Company, representing 49.29% of the Company's issued and outstanding common shares on a non-diluted basis. Aggregate consideration of $38,000 ($0.19 per Share) was received by Mr. Chowdhry in connection with the transaction. Mr. Chowdhry disposed of the Shares for investment purposes and, as disclosed in the early warning report accompanying this news release, intends to evaluate his investment in the Company and to increase or decrease his beneficial shareholdings from time to time as he may determine appropriate for investment purposes.

For additional information, or for a copy of the early warning report filed in respect of the above transaction, please contact Raj Chowdhry.

Contact Information

  • Raj Chowdhry
    Tel: (604) 765-2030