VANCOUVER, BC, July 31, 2019 – Grande Portage Resources Ltd. (GPG: TSX.V, “Grande Portage” or the “Company”) In connection with the Company’s recent private placement offering of units, Darrell Oswald (the “purchaser”), an arm’s length purchaser, and all persons acting jointly or in concert with the purchaser, have acquired, directly and indirectly, 2,000,000 common shares of the Company (the "Shares") and warrants to purchase up to an additional 2,000,000 Shares of the Company (the “Warrants”), representing approximately 3.3% of the total issued shares of the Company on a fully diluted basis (assuming exercise of these Warrants only).
The purchaser, and all persons acting jointly or in concert with the purchaser, previously held 4,041,000 common shares, warrants to purchase up to an additional 1,250,000 common shares, and stock options exercisable for another 500,000 common shares, representing approximately 12.7% of the then issued and outstanding common shares of the Company. After the recent purchases described above, the purchaser now holds or has control or direction over a total of 6,041,000 common shares, 3,250,000 warrants, and 500,000 stock options, representing approximately 17.1% of the total issued and outstanding common shares of the Company on a fully diluted basis (assuming the exercise of the Warrants). The purchaser intends to hold the Shares and Warrants for investment purposes. Depending upon market conditions and other factors, the purchaser may from time to time acquire additional securities of the Company, dispose of some or all of the existing or additional securities it holds in the Company, or will hold or may continue to hold its current position.
Additional information concerning the foregoing is contained in the Early Warning Report filed by the purchaser on SEDAR under the Company’s profile.
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