FOR IMMEDIATE RELEASE
VANCOUVER, BRITISH COLUMBIA - October 19, 2017 – Elemental Capital Partners LLP (“Elemental”) and Delbrook Capital Advisors Inc. (“Delbrook” and together with Elemental the “Sellers”) announce that pursuant to certain acquisitions (“Dispositions”) the Sellers have disposed of some of their direct or beneficial ownership in securities of FireFox Gold Corp. (“FireFox”). Elemental has sold direct or beneficial ownership in securities of FireFox consisting of an aggregate of 2,941,667 common shares (“Common Shares”). Delbrook has sold direct or beneficial ownership in securities of FireFox consisting of an aggregate of 2,050,000 Common Shares.
Prior to the Transactions, Elemental and Delbrook each beneficially owned or controlled, directly or indirectly 3,050,000 Common Shares. The Purchasers entered into securities purchase agreements (the “Agreements”) to divest the shares to various parties, and carried out the transactions contemplated thereunder (the “Transactions”) under section 2.6 of National Instrument 45-102 – Resale of Securities, while relying on prospectus exemptions available in sections 2.3 and 2.5 of National Instrument 45-106 – Prospectus Exemptions. Pursuant to the Agreements the Purchasers sold an aggregate of 4,991,667 Common Shares for the aggregate price of CDN $499.
As a result of the Transactions, Elemental currently holds 108,333 Common Shares representing 0.72% of the 15,111,431 issued and outstanding Common Shares, and Delbrook currently holds 1,000,000 Common Shares representing 6.62% of the 15,111,431 issued and outstanding Common Shares. Together, the Purchasers currently hold 1,108,333 Common Shares representing 7.33% of the 15,111,431 issued and outstanding Common Shares.
The Purchasers currently do not have any definitive plans or future intentions which relate to FireFox’s current business or corporate structure.
This Press Release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the applicable securities commissions or similar regulatory authorities in Canada, which report will contain additional information with respect to the foregoing matters (the “Early Warning Report”). Further details regarding this transaction and FireFox, including a copy of the Early Warning Report, can be found on SEDAR under FireFox’s company profile at www.sedar.com.
For further information, please contact:
Elemental Capital Partners LLP
650, MNP Tower, 1021 W. Hastings St.
Vancouver, BC V6E 0C3 Dr. Fletcher Morgan
Delbrook Capital Advisors Inc.
Suite 650 – 1021 West Hastings Street
Vancouver, BC V6E 0C3
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to, future plans and intentions of Purchasers, the appointment of certain persons as directors and officers of the Company and associated matters. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered
appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, that the plans of the Purchasers may change and directors and officers may not perform their roles as currently expected. The statements in this press release are made as of the date of this release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.