Barkerville Gold Mining (fka BGMZF)

[howestreetbull]

STE.v Starr Peak investor Callaghan acquires 12.4 M shares


2016-08-17 14:56 ET - News Release



Mr. Frank Callaghan, investor, reports

ACQUISITION OF COMMON SHARES OF STARR PEAK EXPLORATION LTD.

Pursuant to the disclosure requirements of applicable securities laws, on Aug. 9, 2016, J. Frank Callaghan acquired beneficial ownership of 12,400,963 common shares of Starr Peak Exploration Ltd. at a deemed price of 5.5 cents per share in settlement of a debt in the amount of $682,053 as previously announced by the company on June 15, 2016. The debt settlement included the issuance of 7,177,327 common shares to Mr. Callaghan directly and 5,223,636 common to Standard Drilling and & Engineering Ltd., a company wholly owned by Mr. Callaghan.

Prior to the debt settlement, Mr. Callaghan owned or controlled a total of 239,866 common shares of the company representing 4.911 per cent of the issued and outstanding common shares of the company. As a result of the debt settlement, Mr. Callaghan currently beneficially owns and exercises control over a total of 12,640,829 common shares of the company, representing an interest of approximately 64.15 per cent of the company's current issued and outstanding common shares.

The securities were acquired for investment purposes. Mr. Callaghan has a long-term view of the investment and may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other relevant factors. A copy of Mr. Callaghan's early warning report will appear on Starr Peak Exploration's profile on SEDAR and may also be obtained by calling 604-669-6463.

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