Skip to main content

Fabiotech Announces Acquisition of Shares of Royal Standard Minerals Inc.

Written by Customer Service on . Posted in Mergers And Acquisitions.

TORONTO, June 28, 2023 (GLOBE NEWSWIRE) — Fabiotech Inc. (the “Corporation”) announces that it has filed an early warning report in respect of the acquisition of shares of Royal Standard Minerals Inc. (unlisted) (“Royal Standard”). On June 28, 2023, the Corporation entered into a purchase agreement with an arm’s length third party pursuant to which the Corporation purchased an aggregate of 504,449 common shares of Royal Standard (the “Royal Standard Shares”) aggregate consideration of $10,000 (approximately $0.0198 per share) (the “Acquisition”).

Immediately prior to giving effect to the Acquisition, the Corporation had beneficial ownership of, or control and direction over, no Royal Standard Shares. Immediately after giving effect to the Acquisition, the Corporation had beneficial ownership of, or control and direction over, 504,449 Royal Standard Shares representing approximately 30.3% of the number of issued and outstanding Royal Standard Shares on a non-diluted basis (based on there being 1,665,119 Royal Standard Shares issued and outstanding as of the date hereof).

The Acquisition was made solely for investment purposes and the Corporation may from time to time acquire additional securities of the Royal Standard or dispose of Royal Standard Shares or may enter into derivative or other transactions with respect to such securities. The Corporation may from time to time increase or decrease its security holdings through market transactions, private agreements or otherwise, subject in each case to applicable securities laws.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated June 28, 2023. The early warning report respecting the Acquisition has been filed on SEDAR (www.sedar.com) under Royal Standard’s issuer profile. To obtain a copy of the early warning report filed by the Corporation, please contact Fabio Chianelli at (416) 800-2684 or refer to SEDAR (www.sedar.com) under Royal Standard’s issuer profile.

For further information on the Corporation please contact:

Fabio Chianelli
President
Telephone: (416) 800-2684

The Corporation’s head office is located at 82 Richmond Street East, Toronto, Ontario M5C 1P1

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.