This press release is issued pursuant to Multilateral 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.
MONTREAL, QUEBEC /ACCESSWIRE / April 1, 2014 / On March 31, 2014, Wei-Tek Tsai of Scottsdale, Arizona, has acquired direct and indirect ownership of common shares in the aggregate principal amount of 1,567,315 of St-Georges Platinum and Base Metals Ltd. (CSE: SX) (OTCQX: SXOOF) (FSE: 85G1) through conversion of debenture issued in July 2013. The current amount of common shares owned by Mr. Tsai in relation with this recent acquisition is of 2,115,776 common shares of St-Georges Platinum or approximately 9.63% of the Issuer's issued and outstanding common shares. (Currently 21,966,936)
Prior to such acquisition, Mr. Tsai held, directly or indirectly or had control over, 548,461 common shares of the Issuer.
Following the conversion, Mr. Tsai holds, directly or indirectly or has control over, 2,115,776 common shares in the capital of the Issuer representing approximately 9.63% of the Issuer's issued and outstanding common shares.
The initial Debenture was acquired by Mr. Tsai as principal for investment purposes pursuant to a debt settlement of $150,000 with a creditor of the issuer in reliance respectively upon sections 2.14 and 2.5 of Regulation 45-106 respecting prospectus and registration exemptions. These holdings will be evaluated and the investments increased or decreased as circumstances warrant.
A report respecting this acquisition will be electronically filed with the Securities Commission in each jurisdiction where the Issuer is reporting and will be available for viewing through the Internet at the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
10735 E ACOMA DR
Scottsdale, Arizona, USA
Source: Wei-Tek Tsai