ROUYN-NORANDA, QC, July 5, 2023 /CNW/ – Focus Mining Corporation (“Focus“) (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) announces that it has sold 2,217,000 shares of common stock (“Common Shares“) of Mosaic Minerals Corp. (“Mosaic minerals“), representing approximately 3.22% of Mosaic Minerals’ Ordinary Shares in issue and outstanding. A total of 620,000 Ordinary Shares were sold on May 2, 2023 at a price of $0.080 in respect of 615,000 shares and at a price of $0.085 in respect of 5,000 shares for a gross proceeds of approx $49,625and a total of 1,597,000 common shares were resold July 4, 2023 at an average price of $0.071 per common share, for gross proceeds of approx $113,135. All previous sales of shares have been made through the facilities of the Canadian Securities Exchange.
Immediately prior to the disposal of the Ordinary Shares described above, Fokus held 10,000,000 Mosaic Minerals Ordinary Shares, representing approximately 14.54% of the Mosaic Minerals Ordinary Shares issued and outstanding. As a result of the disposal, Fokus now holds 7,783,000 shares of common stock, representing approximately 11.32% of the issued and outstanding common stock of Mosaic Minerals.
In accordance with applicable securities laws, Fokus may from time to time and at any time acquire additional shares of common stock and/or other equity, debt or other securities or instruments (collectively “Effects“) of Mosaic Minerals in the open market or otherwise, and reserves the right at any time and from time to time to dispose of any or all of the Securities in the open market or otherwise, and to enter into similar transactions with respect to the Securities, depending entirely on market conditions, the activities and prospects of Mosaic Minerals and other relevant factors.
A copy of an early warning report detailing the foregoing stock dispositions will be filed by Fokus on SEDAR under the Mosaic Minerals profile. This press release is issued under the early warning provisions of the Canadian securities laws.
Fokus Mining Corporation is a mineral resources company actively engaged in the acquisition and exploration of precious metal deposits in the province of Québec, Canada. In executing this important undertaking within the Canadian mining industry, we are determined to keep the secret of the Galloway golden project.
The Galloway project covers an area of 2,865.54 hectares and is located just north of the CadillacPantry more deformation extending laterally for more than 100 km. Numerous gold deposits are related to that structure and its subsidiaries. Current work focuses on a small western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com.
Neither TSX Venture Exchange nor its regulatory service provider (as that term is defined in TSX Venture Exchange policies) assume responsibility for the adequacy or accuracy of this release.
Caution With Forward-Looking Statements
Certain statements in this press release may contain forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should” , and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated in such forward-looking information. The actual results of Fokus may differ materially from the results anticipated in this forward-looking information due to regulatory decisions, competitive factors in the industries in which Fokus operates, prevailing economic conditions, changes in Fokus’ strategic growth plans and other factors. which are beyond the control of Fokus. Fokus believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. All forward-looking information in this press release represents Fokus’ expectations as of the date of this press release and is subject to change after that date. Fokus disclaims any intent or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
SOURCE Fokus Mining Corporation
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