Todd Montgomery

July 19, 2017 13:19 ET

Todd Montgomery Reports Equity Interest in Canadian Platinum Corp.

CALGARY, ALBERTA--(Marketwired - July 19, 2017) - Todd Montgomery ("Mr. Montgomery") announces that on June 29, 2017 he acquired ownership, control or direction over 50,000,000 common shares of Canadian Platinum Corp. (the "Company") at a deemed price of CDN $0.01 per common share for an aggregate deemed consideration of CDN $500,000. The common shares were acquired by Nevada Capital Holdings Corp. ("NCHC"), a company owned and controlled by Mr. Montgomery, pursuant to an asset purchase agreement whereby NCHN sold a 70% interest in the Cook Gold Project in Humboldt County, Nevada, USA to the Company in exchange for the issuance of common shares (the "Transaction").

Mr. Montgomery had ownership or direction and control over an aggregate of 19,746,242 common shares of the Company prior to the Transaction, representing approximately 15.65% of the issued and outstanding common shares of the Company. Pursuant to the Transaction, NCHC has acquired 50,000,000 common shares. As a result of the Transaction, Mr. Montgomery is now a control person of the Company and has ownership or direction or control over 69,746,242 common shares representing approximately 39.6% of the issued and outstanding common shares of the Company. Mr. Montgomery has acquired the common shares for investment purposes, and has no current intention to increase his beneficial ownership of, or control or direction over, securities of the Company. These investments will be reviewed on a continuing basis and holdings may be increased or decreased in the future.

As a result of the Transaction, the number of common shares Mr. Montgomery beneficially owns, or exercises control or direction over of the Company has increased by more than 2%. In satisfaction of the requirements of National 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, an Early Warning Report respecting the acquisition of common shares by Mr. Montgomery will be filed under the Company's SEDAR Profile at www.sedar.com.

As a result of holding 10% or more of the issued and outstanding shares of the Company, Mr. Montgomery is an "insider" and thereby a "related party" of the Company. Accordingly, the Transaction constituted a "related party transaction" as such term is defined by Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101"), requiring the Company, in the absence of exemptions, to obtain a formal valuation for, and minority shareholder approval of, the "related party transaction". The Transaction is exempt from the formal valuation requirements of MI 61-101 as none of the securities of the Company are listed on a prescribed stock exchange. Shareholder approval was obtained at the Company's Annual General and Special Meeting of the Shareholders held May 31st, 2017, where the requisite majority of the disinterested shareholders voted for the resolution approving the transaction and the creation of Montgomery as a new control person. The Transaction was approved by the directors all of whom were independent from the Transaction. In addition, the Transaction was approved by the TSX Venture Exchange.

For information, please contact:

Todd D. Montgomery
c/o Suite 310, 525 - 11th Avenue SW
Calgary, Alberta T2R 0C9
Phone: 306-694-1388

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Todd D. Montgomery
    306-694-1388