TORONTO, CANADA (October 13, 2020) – Golden Share Resources Corporation (“Golden Share” or the “Company”) (TSX-V: GSH) announces that Keystone Associates Inc., 7-145 Riviera Drive, Markham, Ontario, L3R 5J6, acquired 715,000 common shares through a debt settlement on August 6, 2020 (the “Transaction”). Keystone Associates Inc. is 100% owned by Mr. Nick Zeng, President & CEO, Chairman of Golden Share.
Prior to the Transaction, Mr. Zeng owned, directly or indirectly, and exercised control over an aggregate of 3,119,378 common shares and 350,000 shares stock options, representing approximately 8.08% of the issued and outstanding shares of the Company at the time, and 8.90% of the issued and outstanding shares of the Company’s shares on a partially diluted basis assuming Mr. Zeng exercise his options only.
As a result of the Transaction, Mr. Zeng owned, directly or indirectly, and exercised control over an aggregate of 3,834,378 common shares and 350,000 shares stock options, representing an interest of approximately 9.75% of the Company’s currently issued and outstanding shares, and 10.54% of the issued and outstanding shares of the Company’s shares on a partially diluted basis assuming Mr. Zeng exercises his options only.
Generally, Mr. Zeng’s acquisition was made for debt settlement purpose. In accordance with applicable securities laws, Mr. Zeng may evaluate his investment in the Company and to increase or decrease his shareholdings, other equity or debt as circumstances require, depending on market conditions and other factors, through market transactions, private agreements or others.
A copy of the early warning report pursuant to National Instrument 62-103 required to be filed with the applicable securities commissions using the System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing under the Company’s profile at www.sedar.com.
About Golden Share
Golden Share Resources Corporation is a mineral exploration company focusing on the province of Ontario, Canada, a mineral rich and politically stable jurisdiction.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please visit www.goldenshare.ca or contact:
Golden Share Resources Corporation
Nick Zeng, President & CEO