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- Steve Vanry of Suite 912-1112 West Pender Street, Vancouver, B.C., V6E 2S1, has disposed of direct and indirect ownership of an aggregate of 405,000 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 11.46% to 9.07%. The shares were disposed of through the facilities of the TSX Venture Exchange at a price of $0.055 per share as to 350,000 of the shares, a price of $0.06 per share as to 50,000 of the shares and at a price of $0.07 per share as to 5,000 of the shares for an aggregate sale price of $22,600. The shares represent 2.39% 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 1,940,349 common shares of the Issuer representing approximately 11.46% 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, 1,535,349 common shares of the Issuer representing approximately 9.07% 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. Unrelated to the disposition of securities of the Issuer, Mr. Vanry anticipates joining the board of directors of the Issuer and being appointed as its Chief Financial Officer in the near term.
A report respecting this disposition, 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 604-671-9522.
(signed) "Steve Vanry"