Resurgent Capital Update on Ownership of TRU Precious Metals
10.11.2020 | Newsfile
Toronto, Nov. 10, 2020 - Resurgent Capital Corp. ("Resurgent") announces that it has become aware that, as a result of the recent issuance (the "Issuance") by TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) ("TRU") of 1,435,000 common shares of TRU ("Shares") for a mineral property investment, TRU has 24,880,841 Shares issued and outstanding.Accordingly, although the Issuance did not result in any changes to Resurgent's ownership or control of Shares, Resurgent continues to own 2,347,500 Shares and 100,000 stock options exercisable for Shares, collectively representing approximately 9.8% of the issued and outstanding Shares on a partially-diluted basis. Immediately prior to the Issuance, these holdings collectively represented approximately 10.4% of the then-issued and outstanding Shares on a partially-diluted basis.
Resurgent may, from time to time, dispose of some or all of the Shares it currently owns, and/or acquire additional Shares. Resurgent does not currently intend to change TRU's previously-disclosed plans, as future corporate decisions will continue to be made by management and the board of directors of TRU.
Joel Freudman, President of both Resurgent and TRU, commented: "Although the Issuance has decreased Resurgent's percentage ownership in TRU, we continue to maintain our current holdings of Shares as the single largest shareholder of TRU, and are pleased with the direction TRU is heading."
This news release is issued pursuant to the early warning requirements of applicable securities laws. This news release and the related early warning report will be filed on SEDAR at www.sedar.com under TRU's profile.
About Resurgent Capital Corp.
Resurgent is a Toronto-based merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies. Resurgent is incorporated under the laws of Ontario.
For further information or to obtain a copy of the related early warning report, please contact:
Resurgent Capital Corp.
1 Adelaide St. E., Ste. 801
Toronto, ON M5C 2V9
Attn: Joel Freudman, President
Tel: (647) 880-6414