Welcome!

News Feed Item

Investors Acquire Shares of CB Gold Inc.

TORONTO, ONTARIO -- (Marketwired) -- 04/22/14 -- Michelle Navarro Grau ("MNG") announced that on April 21, 2014, MNG may be deemed to have acquired indirect beneficial ownership of, and/or control or direction over, 3,596,000 common shares of CB Gold Inc. ("CB Gold", and each common share of CB Gold, a "Common Share") which were acquired by Seymour Business Company Inc. ("SBC") through the facilities of the TSX Venture Exchange (the "Transaction"). 3,500,000 of such Common Shares were acquired at a price of $0.12 per share, and 96,000 of such Common Shares were acquired at a price of $0.125 per share.

Immediately following the completion of the Transaction, MNG may be deemed to have beneficial ownership of, and/or control and direction over, directly or indirectly, an aggregate of: (i) 14,679,700 Common Shares of CB Gold (13,333,500 of which are held by SBC, and 1,346,200 of which are held by Thatagata Investment Corp. ("TIC", and with MNG and SBC, the "Filing Parties"), and (ii) 500,000 warrants to purchase Common Shares of CB Gold (each, a "Warrant"), each of which may be exercised to purchase one Common Share at a price of $0.70 per share until October 28, 2015. All 500,000 Warrants are directly held by SBC. MNG may be deemed to exercise control or direction, directly or indirectly, over SBC and TIC. In addition, Sagu Holdings Inc. ("SHI") holds 2,120,000 Common Shares of CB Gold and may be deemed to be acting jointly or in concert with MNG, SBC, and TIC for purposes of Canadian Securities Laws.

Accordingly, immediately following the completion of the Transaction, for purposes of Canadian securities laws MNG (together with SHI, which may be deemed to be acting jointly or in concert with MNG, SBC, and TIC) may be deemed to have beneficial ownership of, and/or control and direction over, directly or indirectly, an aggregate of 17,299,700 Common Shares of CB Gold, or approximately 10.84% of the Common Shares that would have been outstanding at such time assuming the issuance of all 500,000 Common Shares for which the Warrants may be exercised.

For purposes of calculating percentages of Common Shares beneficially owned or over which control or direction is exercised, directly or indirectly, the Filing Parties have assumed that there were 159,586,007 Common Shares outstanding as of the date hereof (assuming the exercise of all Warrants that are the subject of this Report), and assuming that there were 159,086,007 Common Shares outstanding as at March 21, 2014 (without giving effect to the issuance of any Common Shares upon the exercise of Warrants) as disclosed by CB Gold in its Management's Discussion and Analysis for the year ended December 31, 2013, filed on SEDAR on March 26, 2014.

Other Information

The Filing Parties and SHI acquired beneficial ownership of, and control or direction over, directly or indirectly, the Common Shares that are the subject of this news release for investment purposes. The Filing Parties and SHI intend to review their investment in CB Gold on a continuing basis. Depending on various factors including, without limitation, CB Gold's financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, CB Gold's business or financial condition and other factors and conditions the Filing Parties and SHI deem appropriate from time to time, the Filing Parties and/or SHI may in the future take such actions with respect to their investments in CB Gold as the Filing Parties or SHI deem appropriate including, without limitation, acquiring Common Shares or other securities of CB Gold, and selling or otherwise disposing of some or all of the Common Shares or other securities of CB Gold held by any of them from time to time. In addition, the Filing Parties and/or SHI may formulate other purposes, plans or proposals regarding CB Gold or any of CB Gold's securities to the extent deemed advisable in light of general investment and trading policies, market conditions or other factors or may change their intention with respect to any and all matters referred to above.

Neither the dissemination over the news wires of this news release nor the filing with applicable securities commissions of the related early warning report in connection with the matters disclosed herein in accordance with applicable Canadian securities laws is an admission that any individual or entity named or referred to in this news release owns or controls any described securities or is a joint actor with another individual or entity named or referred to in this news release.

The Filing Parties' addresses are as follows: Michelle Navarro Grau, Avenida Javier Prado Este No. 3580, San Borja, Lima, Peru; SBC and TIC, jiron Crane 102, San Borja, Lima, Peru.

For further information, including to obtain a copy of the report filed by the Filing Parties in accordance with applicable Canadian securities laws, contact the Filing Parties at the address specified below or their Canadian counsel at the number specified below.


Jr. Crane 102                                                               
San Borja, Lima 41, Peru                                                    
                                                                            
Attn: Ernesto Bendezu                                                       
Tel: +51 (1) 618-1004                                                       
                                                                            
Or contact the Filing Parties' Canadian counsel at:                         
                                                                            
Tel: +1 (416) 865-4404                                                      

Contacts:
Jr. Crane 102
San Borja, Lima 41, Peru
Attn: Ernesto Bendezu
+51 (1) 618-1004

The Filing Parties' Canadian counsel:
+1 (416) 865-4404

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assis...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that A&I Solutions has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.