Lions Bay acquires 3.32M Fidelity Minerals shares

Executive Summary

• Lions Bay Capital Inc. acquired an additional 3,325,000 units of Fidelity Minerals Corp. in a non-brokered private placement, increasing its total holdings significantly.
• The acquisition brings Lions Bay's total common share ownership to approximately 38.22% of Fidelity Minerals Corp. on an undiluted basis, and up to 41.00% on a partially diluted basis if all warrants are exercised.
• The transaction was driven by the strategic potential of Fidelity's Las Huaquillas property, described by Executive Chairman John Byrne as a "Tier 1 epithermal gold and porphyry target."

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Acquired: 3,325,000 units.
• Price per Unit: $0.10 CAD.
• Aggregate Consideration: $332,500 CAD.
• Unit Composition: Each unit consists of one common share and one-half share purchase warrant.
• Warrant Terms: Each full warrant entitles the holder to acquire one additional common share at an exercise price of $0.20 per share.
• Warrant Expiration: October 7, 2027.
• Pre-Transaction Holdings: 10,140,162 common shares (approx. 46.66% of issued and outstanding shares on an undiluted basis).
• Post-Transaction Common Share Holdings: 13,465,162 common shares (approx. 38.22% of issued and outstanding shares on an undiluted basis).
• Warrant Holdings: Warrants exercisable for up to 1,662,500 common shares.
• Fully Diluted Ownership: If all warrants are exercised, total ownership would be 15,127,662 common shares, representing approximately 41.00% of issued and outstanding shares on a partially diluted basis.
• Purpose of Securities: Held for investment purposes.
• Regulatory Context: Filed pursuant to National Instrument 62-103 (Early Warning System).

Notable Quotes

• "We are very excited by the potential of the Las Huaquillas property held by Fidelity, which we consider a Tier 1 epithermal gold and porphyry target," stated John Byrne, the executive chairman of Lions Bay.