TORONTO, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Mr. Donald Sheldon announces that on February 16, 2018 he acquired ownership of or control over an additional 300,000 Common Shares (the “Common Shares”) in the capital of Carrie Arran Resources Inc. (the “Issuer”) at a price of $0.05 per Common Share through a private placement of the Issuer, the first closing of which was announced on January 11, 2018.
Prior to acquiring such Common Shares, Mr. Sheldon owned or controlled 746,000 Common Shares representing approximately 9.98% of the issued and outstanding Common Shares and 746,000 Warrants that, if exercised, would have given Mr. Sheldon ownership or control over approximately 18.15% of the issued and outstanding Common Shares (calculated on a partially diluted basis).
As a result of the above-noted acquisition, Mr. Sheldon now owns or controls 1,046,000 Common Shares representing approximately 13.45% of the issued and outstanding Common Shares and 746,000 Warrants that, if exercised, would give Mr. Sheldon ownership or control over approximately 21.03% of the issued and outstanding Common Shares (calculated on a partially diluted basis).
Mr. Sheldon has no present intention of acquiring additional securities of the Issuer (other than with respect to the possible exercise of some or all of the Warrants). Depending upon his evaluation of the business, prospects and financial condition of the Issuer, the market for the Issuer’s securities, general economic and tax conditions and other factors, Mr. Sheldon may acquire more or sell some or all of his securities of the Issuer.
The Issuer relied on the exemption provided in section 73.3(2) of the Securities Act (Ontario) corresponding to National Instrument 45-106, section 2.3 – Accredited Investor .
For more information and to obtain a copy of the early warning report required by securities legislation and filed on SEDAR under the Issuer’s company profile at www.sedar.com, please contact:
199 Bay Street, Suite 2200
Toronto, Ontario M5L 1G4