|By Marketwired .||
|June 26, 2014 04:35 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/26/14 -- Dale Corman of 18th floor, 570 Granville Street, Vancouver, BC V6C 3P1 announces that he has acquired beneficial ownership and control of 6,860,000 common shares of Copper North Mining Corp. (the "Company") pursuant to the conversion of amounts owing to him by the Company in relation to an outstanding loan (the "Loan"). Mr. Corman is a director of the Company.
As announced on May 8, 2013, Mr. Corman provided Copper North with the $300,000 Loan that carried an interest rate of eight percent (8%) per year. In consideration of the risk taken by Mr. Corman, he was also entitled to a bonus of shares equal to 20% of the principal amount of the Loan.
In accordance with the terms of the loan agreement, the Company issued 6,860,000 common shares at a deemed price of $0.05 per common share and paid $43,000 in cash to settle amounts owing to the Mr. Corman for principal, interest and bonus shares.
After giving effect to the Loan repayment in common shares, Mr. Corman owns, directly, 9,426,200 common shares of the Company and 315,000 stock options, representing 11.7% of the Company's issued and outstanding common shares on a non-diluted basis or 12.1% on a partially-diluted basis assuming exercise of his stock options. Mr. Corman's wife, Caroline Corman (an associate of Mr. Corman pursuant to Multilateral Instrument 62-104), owns 1,505,000 common shares of the Company and warrants exercisable to purchase 835,000 common shares of the Company. Mr. and Mrs. Corman collectively own 10,931,200 common shares of the Company, representing 13.6% of the Company's issued and outstanding common shares or 14.8% on a partially-diluted basis assuming exercise of Mr. Corman's stock options and Mrs. Corman's warrants.
Mr. Corman acquired the common shares for investment purposes. He intends to evaluate his investment in the Company and to increase or decrease his beneficial shareholdings from time to time as he may determine appropriate for investment purposes. The common shares were issued pursuant to the securities for debt exemption in National Instrument 45-106.
A copy of the early warning report being filed by Mr. Corman may be obtained by contacting Julien Francois at 604-638-2505.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
18th floor, 570 Granville Street
Vancouver, BC V6C 3P1
Sep. 29, 2016 09:45 PM EDT Reads: 3,119
Sep. 29, 2016 08:45 PM EDT Reads: 1,542
Sep. 29, 2016 08:45 PM EDT Reads: 2,203
Sep. 29, 2016 06:15 PM EDT Reads: 3,675
Sep. 29, 2016 06:00 PM EDT Reads: 1,535
Sep. 29, 2016 05:15 PM EDT Reads: 2,853
Sep. 29, 2016 05:15 PM EDT Reads: 1,580
Sep. 29, 2016 04:45 PM EDT Reads: 2,785
Sep. 29, 2016 04:45 PM EDT Reads: 3,439
Sep. 29, 2016 04:30 PM EDT Reads: 1,956
Sep. 29, 2016 04:30 PM EDT Reads: 1,341
Sep. 29, 2016 04:00 PM EDT Reads: 2,395
Sep. 29, 2016 04:00 PM EDT Reads: 478
Sep. 29, 2016 03:30 PM EDT Reads: 1,627
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Sep. 29, 2016 03:30 PM EDT Reads: 2,551