This press release is issued pursuant to Multilateral Instrument 62 - Mr. Ryan Kalt (the "Acquiror") reports that he has privately acquired 1,800,000 common share units (the "Acquired Units") of
79 Resources Ltd. (CSE:SNR)("
79 Resources" or the "Issuer") on an indirect basis through a private placement (the "Financing") conducted by the Issuer for which cash consideration of $90,000.00 was paid to the Issuer (the "EWR Reporting Event"). The Acquired Units were indirectly acquired at closing of the Financing (on April 30, 2024) and were indirectly acquired pursuant to the terms of the Financing announced by the Issuer (see also news releases issued by
79 Resources as dated April 16, 2024 and April 30, 2024), and likewise as set out in the Form 62-103F1 associated with this Early Warning Notice.
The Acquired Units were acquired by Mr. Kalt on an indirect basis through Kalt Industries Ltd. (a company beneficially owned by Mr. Kalt) for investment purposes.
Under the Business Corporation Act (British Columbia), which applies to the Issuer, Mr. Kalt, who is an officer and director of the Issuer, abstained from voting on resolutions specific to the Financing and duly provided all applicable notices under the regulations.
As at the date hereof, Mr. Kalt now owns and controls, on a direct and indirect basis (and in the aggregate), an aggregate total of 18,516,400 common shares of 79 Resources, representing approximately 83.3% of the Issuer's currently issued and outstanding common shares.
Mr. Kalt and/or corporate entities owned by him may acquire additional securities of the Issuer either on the open market or through private acquisitions or sell securities of the Issuer either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Other than the foregoing, Mr. Kalt and/or corporate entities owned by him do not have plans or any future intentions which relate to or would result in any of the other foregoing matters.
"Ryan Kalt"
Ryan Kalt
The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from SEDAR+ atwww.sedarplus.ca. In the alternate, to obtain a copy of the report, please contact Mr. Kalt at 1.403.454.2984.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.
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