SOURCE: Chad Boyko
June 20, 2016 21:00 ET
TORONTO, ON–(Marketwired – June 20, 2016) – Chad Boyko, 732 Millyard St., Vancouver, BC V5Z 4A7 (the “Offeror”), announced its acquisition of 2,083,000 units of Comstock Metals Ltd. (the “Company”). Each unit is comprised of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire a further common share of the Company at a price of $0.18 for two years following the date of issuance. Following the acquisition the Offeror is the holder of a total of 2,865,333 common shares and 2,083,000 common share purchase warrants representing 9.8% of the total issued common shares on an undiluted basis and 15.8% assuming the warrants held by the Offeror are exercised.
The units were acquired at a price of $0.12 per unit pursuant to a private placement completed by the Company on June 9, 2016.
The Offeror acquired these securities for investment purposes and has no present intention to acquire further securities of the Company, although it may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System. A copy of the Early Warning Report will appear with the Company’s documents on the SEDAR website at www.sedar.com.