- Michael Gentile acquired 5,250,000 units of Leviathan Gold (LVXFF, Financial) in a private placement.
- The acquisition represents 8.549% of the company's outstanding shares on an undiluted basis.
- Gentile's investment includes 2,625,000 warrants, exercisable at $0.15 per share within 24 months.
Michael Gentile has announced the acquisition of 5,250,000 units of Leviathan Gold (LVXFF) through a non-brokered private placement. Each unit consists of one common share and one-half of a common share purchase warrant. The warrants allow holders to acquire additional shares at $0.15 per share within 24 months of issuance. This strategic investment marks Gentile’s first in Leviathan Gold, as he held no prior securities in the company.
Following this acquisition, Gentile now owns 5,250,000 common shares and 2,625,000 warrants, representing approximately 8.549% of the company’s outstanding shares on an undiluted basis and 12.29% on a partially diluted basis. The investment is described as a long-term commitment, with Gentile indicating potential future transactions depending on market conditions and other factors.
This move by Gentile strengthens Leviathan Gold's shareholder base and highlights the potential for future strategic investments within the company. For those interested in further details regarding the acquisition, the complete report can be accessed through SEDAR+.
