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Allen Green Announces Updated Holdings in Akwaaba Mining Ltd. and Filing of Early Warning Report
TMX Newsfile· 2026-03-06 20:27
Core Viewpoint - Allan Green, Chairman and CEO of Akwaaba Mining Ltd (AML), announced the acquisition of shares, increasing his ownership stake in the company to approximately 79.64% on a non-diluted basis and 82.03% on a fully diluted basis [4][6]. Group 1: Share Acquisition Details - Allan Green acquired 2,340,593 common shares from Grizal Enterprises Ltd and 1,000,000 shares from Marsevia Holdings Ltd at a price of CAD $0.13 per share, totaling CAD $434,277.30 [4]. - Following the acquisition, Allan Green's total beneficial ownership increased to 11,645,110 shares [6]. - The acquisition was completed through a private agreement, with Candel & Partners SAS holding a portion of the shares on behalf of Allan Green [5]. Group 2: Ownership and Control - Prior to the acquisition, Allan Green owned 8,304,517 shares and 350,000 share purchase warrants, representing approximately 56.79% of the outstanding shares on a non-diluted basis [3]. - After the acquisition, Allan Green's ownership percentage increased significantly, reflecting a strong control over AML [6]. - Grizal ceased to be a control person of AML following the completion of the share acquisition [2]. Group 3: Future Intentions - Allan Green's acquisition was made for investment purposes, responding to an unsolicited opportunity to increase his stake in AML [7]. - There are no current plans regarding the securities, but future intentions may include increasing or decreasing ownership depending on market conditions [7]. Group 4: Regulatory Compliance - The share acquisition was conducted under the "private agreement exemption" as per National Instrument 62-104, ensuring compliance with regulatory requirements [8]. - An early warning report will be filed with securities regulators, providing additional information regarding the acquisition [9].