John McBride Acquires Shares of Dorset Resources Ltd.
This press release is issued pursuant to National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
- Pursuant to the Arrangement, Carrie distributed common shares of the Issuer ("Dorset Shares") it received under the Arrangement to holders ("Carrie Shareholders") of common shares of Carrie ("Carrie Shares") on a pro rata basis, such that Carrie Shareholders received 0.10 Dorset Share for every 1 Carrie Share held on the Effective Date.
- As a result of the Arrangement, Mr. McBride acquired beneficial ownership of and / or exercise of control or direction over an aggregate 230,662 Dorset Shares representing approximately 19.07% of the issued and outstanding Dorset Shares.
- The Dorset Shares were acquired pursuant to the Arrangement because Mr. McBride is a Carrie Shareholder and will be held for investment purposes.
- Assuming the private placement is fully subscribed, Mr. McBride's aggregate shareholding in Dorset is expected to be 2,230,662 Dorset Shares representing 19.90% of the issued and outstanding Dorset Shares post-closing of the private placement.