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.
Vancouver, B.C. / TheNewswire / April 20, 2017- Mark Vanry of Suite 912-1112 West Pender Street, Vancouver, B.C., V6E 2S1, has disposed of direct ownership of 400,000 common shares in the capital of Rhys Resources Ltd. (the "Issuer"), with offices at Suite 912-1112 West Pender Street, Vancouver, B.C., V6E 2S1, which decreased Mr. Vanry's percentage ownership of common shares of the Issuer held from 14.71% to 17.07%. The shares disposed of were disposed through the facilities of the TSX Venture Exchange at a price of $0.055 per share as to 350,000 of the shares and at a price of $0.06 per share as to 50,000 of the shares for an aggregate price of $22,250. The shares represent 2.36% of the Issuer's current issued and outstanding common shares.
Immediately before the transaction that triggered the requirement to issue this news release, Mr. Vanry owned and controlled 2,889,381 common shares of the Issuer representing approximately 17.07% of the Issuer's then issued and outstanding common shares. Immediately after the transaction that triggered the requirement to issue this news release, Mr. Vanry owns, directly and indirectly, 2,489,381 common shares of the Issuer representing approximately 14.71% of the Issuer's issued and outstanding common shares.
The shares were disposed of for investment purposes by Mr. Vanry and Mr. Vanry will evaluate his investment in the Issuer and will increase or decrease his investment by future acquisitions or dispositions of securities of the Issuer at his discretion, as circumstances warrant. As of the date hereof, Mr. Vanry has no immediate future intention to acquire additional securities of the Issuer or dispose of securities of the Issuer that he beneficially owns.
A report respecting this acquisition, which is incorporated herein by reference, will be electronically filed with the Securities Commissions in Alberta and British Columbia and will be available for viewing through the Internet at the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. To obtain a copy of the report, contact Mr. Vanry at 778-997-7573.
(signed) "Mark Vanry"