VANCOUVER, May 10, 2016 /CNW/ - BCI Ventures Inc. ("BCI")
announces that it has purchased the following securities of
Marathon Gold Corporation ("Marathon"):
- 1,450,000 units of Marathon at $0.23 per unit pursuant to a private placement of
Marathon. Each such unit consists of one common share of Marathon
(each a "Common Share") and one half of one common share purchase
warrant of the Company exercisable until May
6, 2018. Each whole warrant is exercisable into one Common
Share at $0.32 per share; and
- 1,000,000 Common Shares for $0.20
per share purchased on the Toronto Stock Exchange.
Prior to such purchases, BCI owned 10,172,283 Common Shares and
warrants entitling the holder to purchase an additional 2,725,641
Common Shears, being 10.9% of the outstanding Common Shares and
13.4% assuming exercise of all warrants held by BCI. Following such
purchases, BCI owns 12,622,283 Common Shares and warrants entitling
the holder to purchase an additional 3,450,641 Common Shares, being
11.9% of the outstanding Common Shares of Marathon and 14.7%
assuming exercise of all warrants held by BCI.
BCI advises that the securities have been acquired for
investments purposes. BCI may, depending on the market and
other conditions, increase or decrease his beneficial ownership of
the Marathon's securities, whether in the open market, by privately
negotiated agreements or otherwise, subject to a number of factors,
including general market conditions and other available investment
and business opportunities.
This press release is issued pursuant to Multilateral Instrument
62-104, which also requires a report to be filed containing
additional information with respect to the foregoing matters.
SOURCE Marathon Gold Corporation