News Release for Early Warning Report Regarding Luminex Resources Corp.

Error message

Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).

Each Warrant is exercisable into one Share for a period of 24 months following the issuance date at an exercise price of C$0.44.

Metadata

Provider:

GlobeNewswire, Inc.

Retrieved on:

Thursday, February 16, 2023

Information

Tags:

Howe Street, Indian stock exchange, Security (finance), National instrument, Prospectus, Unit, Acquisition, Luminex

Geotags:

VANCOUVER, CA, BRITISH COLUMBIA

Organisation:

ROSS J. BEATY

Summary

Key Points:

Each Warrant is exercisable into one Share for a period of 24 months following the issuance date at an exercise price of C$0.44.
Mr. Beaty acquired ownership through a private placement transaction in reliance on the accredited investor exemption set out in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions.
Prior to the Acquisition, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 26,283,803 Shares, 315,001 vested stock options to acquire Shares (“Options”) and 2,366,118 Warrants.
The 26,283,803 Shares represented approximately 19.87% of the total number of issued and outstanding Shares.

VANCOUVER, British Columbia, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, announced that on February 16, 2023, he acquired 8,465,000 units (“Units”) of Luminex Resources Corp. (“Luminex”), a company with a head office at 410 - 625 Howe Street Vancouver, British Columbia V6C 2T6, with each Unit comprised of one common share in the authorized share structure of Luminex (a “Share”) plus one-half of one Share purchase warrant (each whole such warrant, a “Warrant”), at a price of C$0.30 per Unit for aggregate consideration of C$2,539,500 (the “Acquisition”). Each Warrant is exercisable into one Share for a period of 24 months following the issuance date at an exercise price of C$0.44. Mr. Beaty acquired ownership through a private placement transaction in reliance on the accredited investor exemption set out in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions.

Prior to the Acquisition, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 26,283,803 Shares, 315,001 vested stock options to acquire Shares (“Options”) and 2,366,118 Warrants. The 26,283,803 Shares represented approximately 19.87% of the total number of issued and outstanding Shares. If all of Mr. Beaty’s 315,001 Options and 2,366,118 Warrants were exercised, Mr. Beaty would have owned, directly or indirectly, or exercised control or direction over, approximately 21.46% of issued and outstanding Shares, on a partially diluted basis.

After the completion of the Acquisition, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 34,748,803 Shares, 315,001 Options and 6,598,618 Warrants. The 34,748,803 Common Shares represent approximately 19.98% of the issued and outstanding Shares. If all of Mr. Beaty’s 315,001 Options and 6,598,618 Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 23.04% of the issued and outstanding Common Shares, on a partially diluted basis.

The Acquisition was made for investment purposes. In accordance with applicable securities laws, Mr. Beaty may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Luminex in the open market or otherwise, and reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Luminex and other relevant factors.

A copy of the Early Warning Report filed under applicable securities laws is available under Luminex’s profile on SEDAR (www.sedar.com).

For more information, please contact:

Ross J. Beaty
1550 – 625 Howe Street
Vancouver, British Columbia
V6C 2T6

Telephone: (604) 806-3173
Facsimile: (604) 684-0147