Stephen Stewart Files Early Warning Report for Mistango River Resources
TORONTO, Feb. 19, 2020 /CNW/ - Stephen Stewart of Toronto, Canada has filed an early warning report in respect of Mistango River Resources Inc. (CSE: MIS; "Mistango" or the "Company") following the issuance of the previously announced amended and restated convertible promissory note (the "Note") to 2287957 Ontario Inc. (the "Acquiror"), a company controlled by Mr. Stewart. The Note is in the principal amount of $55,000 and convertible into up to 1,833,333 common shares of Mistango on a basis of a conversion price of $0.03 per share.
Prior to the completion of the transaction, Mr. Stewart directly and indirectly beneficially owned, and exercised control and direction over, 18,884,334 common shares of the Company and stock options and warrants to acquire a further 4,516,666 common shares or approximately 26.17% of the outstanding common shares on a non-diluted basis and 30.52% on a partially diluted basis. Following completion of the transaction, Mr. Stewart directly and indirectly beneficially owns, and exercises control and direction over, 18,884,334 common shares representing approximately 26.17% of the outstanding common shares on a non-diluted basis and 32.15% on a partially diluted basis (which assumes the exercise of all stock options and warrants and the conversion of the A&S Note in full).
Any common shares that would be acquired upon the conversion of the Note would be acquired by Mr. Stewart for investment purposes. Mr. Stewart has no present intention to acquire or dispose of any further securities of the Company however, Mr. Stewart may, in the future, acquire additional common shares or dispose of common shares through, among other means, the purchase or sale of common shares on the open market or in private transactions or otherwise, on such terms and at such times as Mr. Stewart may deem advisable.
SOURCE Stephen Stewart
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For additional information or to obtain a copy of the early warning report, please contact: Stephen Stewart, Phone: 416.644.1567, Email: [email protected]
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