Michael Gentile Announces Filing of Early Warning Report Related to Acquisition of Common Shares of Astra Exploration Inc.

Rhea-AI Summary

Michael Gentile has filed an early warning report regarding his acquisition of 3,708,333 common shares of Astra Exploration Inc. (ATEPF) through the exercise of warrants on April 17, 2025. Prior to this transaction, Gentile held 14,216,667 common shares and 3,708,333 warrants, representing approximately 16.68% ownership on an undiluted basis and 20.15% on a partially diluted basis.

Following the acquisition, Gentile's holdings increased to 17,925,000 common shares with no remaining warrants, bringing his ownership stake to approximately 18.93% of the company's issued and outstanding shares on both undiluted and partially diluted bases. The investment was made with a long-term perspective, and Gentile may consider future market transactions depending on conditions and other factors.

Positive

• Significant insider ownership increase to 18.93% demonstrates confidence in company
• Complete exercise of warrants provides additional capital to company
• Long-term investment commitment from major shareholder

Negative

• Potential future share sales by major shareholder could impact stock price

Toronto, Ontario--(Newsfile Corp. - April 21, 2025) - Michael Gentile announces that he has filed an early warning report (the "Report") announcing, that on April 17, 2025, he exercised an aggregate of 3,708,333 common share purchase warrants (the "Warrants") in the capital of the Astra Exploration Inc. (the "Company") and therefore acquired an aggregate of 3,708,333 common shares (the "Common Shares") in the capital of the Company (the "Acquisition").

Prior to the completion of the Acquisition, beneficially owned or controlled an aggregate of 14,216,667 Common Shares and 3,708,333 Warrants, representing approximately 16.68% of the Company's issued and outstanding on an undiluted basis and approximately 20.15% on a partially diluted basis. Following the completion of the Acquisition, Mr. Gentile beneficially owns and controls, directly or indirectly, an aggregate of 17,925,000 Common Shares and nil Warrants, representing approximately 18.93% of the Company's issued and outstanding on an undiluted basis and on a partially diluted basis.

The Common Shares were acquired for investment purposes. Mr. Gentile has a long-term view of the investment and may acquire additional securities of the Company either on the open market or through private acquisitions or sell the Common Shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

For further details relating to the Acquisition, please see the Report, a copy of which is available on SEDAR+, or by contacting Michael Gentile at (514) 591-4227.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249164

FAQ

How many shares did Michael Gentile acquire in Astra Exploration (ATEPF) on April 17, 2025?

Michael Gentile acquired 3,708,333 common shares of Astra Exploration through the exercise of warrants on April 17, 2025.

What is Michael Gentile's current ownership percentage in ATEPF after the warrant exercise?

Following the acquisition, Michael Gentile owns approximately 18.93% of Astra Exploration's issued and outstanding shares.

How did Michael Gentile's share position in ATEPF change after the warrant exercise?

His position increased from 14,216,667 to 17,925,000 common shares, while his warrants position decreased from 3,708,333 to zero.

What are Michael Gentile's investment intentions for his ATEPF holdings?

Gentile maintains a long-term investment view and may acquire additional shares or sell existing positions depending on market conditions and other factors.