John Ross Quigley Announces Filing of Early Warning Report Related to Historical Transactions of Acquisitions of Securities of Advanced Gold Exploration Inc.

Rhea-AI Summary

John Ross Quigley has filed an early warning report regarding historical transactions of Advanced Gold Exploration Inc. (AUHIF) securities between December 2023 and September 2024. As of October 3, 2024, Quigley owns or controls 16,738,777 common shares, representing 22.14% of the company's outstanding shares. The report details three significant transactions:

1. December 22, 2023: Company option exercise diluted Quigley's ownership from 12.29% to 9.54%.
2. April 5, 2024: Quigley acquired 3,333,333 shares and warrants, increasing ownership to 13.63% (17.89% diluted).
3. September 3, 2024: Quigley acquired 8,000,000 shares and 4,600,000 warrants, increasing ownership to 22.14% (29.53% diluted).

Quigley may increase or decrease holdings based on market conditions and future circumstances.

Positive

• Significant increase in ownership stake from 9.23% to 22.14% of outstanding shares
• Acquisition of additional warrants, potentially increasing future ownership to 29.53% on a diluted basis
• Demonstrated confidence in the company through multiple private placement participations

Negative

• Potential for significant shareholder dilution due to large-scale share issuances
• Increased concentration of ownership may impact stock liquidity and price volatility

News Market Reaction – AUHIF

+20.00%

1 alert

+20.00% News Effect

On the day this news was published, AUHIF gained 20.00%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Toronto, Ontario--(Newsfile Corp. - October 4, 2024) - John Ross Quigley announces that he has filed an early warning report (the "Report") in connection with historical transactions involving common shares (the "Common Shares") in the capital of Advanced Gold Exploration Inc. (the "Company") and Common Share purchase warrants (each, a "Warrant") in the capital of the Company that occurred between December 2023 and September 2024. None of the transactions occurred on the facilities of the Canadian Securities Exchange (the "CSE"). As of October 3, 2024, Mr. John Ross Quigley has beneficial ownership of, or control or direction over, 16,738,777 Common Shares, representing approximately 22.14% of the issued and outstanding Common Shares of the Company.

On December 22, 2023, the Company issued Common Shares to exercise an option pursuant to an option agreement (the "Option Payment"). Prior to completion of the Option Payment, Mr. Quigley, directly or indirectly, beneficially owned, or had control or direction over, an aggregate of 5,405,444 Common Shares, which represented approximately 12.29% of the then issued and outstanding Common Shares on an undiluted and partially diluted basis. As a result of the Company issuing additional Common Shares out of treasury for the Option Payment, Mr. Quigley, directly or indirectly, beneficially owned, or had control or direction over, an aggregate of 5,405,444 Common Shares, representing approximately 9.54% of the issued and outstanding Common Shares on an undiluted and partially diluted basis.

On April 5, 2024, Mr. Quigley acquired 3,333,333 Common Shares and 3,333,333 Warrants pursuant to the Company's non-brokered private placement (the "April 2024 Financing"). Prior to completion of the April 2024 Financing, Mr. Quigley, directly or indirectly, beneficially owned, or had control or direction over, an aggregate of 5,405,444 Common Shares, which represented approximately 9.23% of the then issued and outstanding Common Shares on an undiluted and partially diluted basis. Upon completion of the April 2024 Financing, Mr. Quigley, directly or indirectly, beneficially owned, or had control or direction over, an aggregate of 8,738,777 Common Shares and 3,333,333 Warrants, representing approximately 13.63% of the issued and outstanding Common Shares on an undiluted and approximately 17.89% on a partially diluted basis.

On September 3, 2024, Mr. Quigley acquired 8,000,000 Common Shares and 4,600,000 Warrants pursuant to the Company's non-brokered private placement (the "September 2024 Financing"). Prior to completion of the September 2024 Financing, Mr. Quigley, directly or indirectly, beneficially owned, or had control or direction over, an aggregate of 8,738,777 Common Shares and 3,333,333 Warrants, representing approximately 13.63% of the issued and outstanding Common Shares on an undiluted and approximately 17.89% on a partially diluted basis. Upon completion of the September 2024 Financing, Mr. Quigley directly or indirectly, beneficially owned, or had control or direction over, an aggregate of 16,738,777 Common Shares and 7,933,333 Warrants, representing approximately 22.14% of the issued and outstanding Common Shares on an undiluted and approximately 29.53% on a partially diluted basis.

Depending on market and other conditions, or as future circumstances may dictate, Mr. Quigley may from time to time increase or decrease its holdings of Common Shares or other securities of the Company.

For further information please contact:

For further details relating to the Transactions, please see the Report, a copy of which is available on SEDAR+, or by contacting John Ross Quigley at (416) 441-7071 or jrossq@aol.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225688

FAQ

What is John Ross Quigley's current ownership percentage in Advanced Gold Exploration Inc. (AUHIF)?

As of October 3, 2024, John Ross Quigley owns or controls 16,738,777 common shares, representing approximately 22.14% of Advanced Gold Exploration Inc.'s (AUHIF) outstanding shares.

How many shares and warrants did John Ross Quigley acquire in the September 2024 Financing of AUHIF?

In the September 2024 Financing, John Ross Quigley acquired 8,000,000 common shares and 4,600,000 warrants of Advanced Gold Exploration Inc. (AUHIF).

What was the impact of the April 2024 Financing on John Ross Quigley's ownership in AUHIF?

The April 2024 Financing increased John Ross Quigley's ownership in Advanced Gold Exploration Inc. (AUHIF) from 9.23% to 13.63% on an undiluted basis, and to approximately 17.89% on a partially diluted basis.

How did the December 2023 option exercise affect John Ross Quigley's ownership percentage in AUHIF?

The December 2023 option exercise by Advanced Gold Exploration Inc. (AUHIF) diluted John Ross Quigley's ownership percentage from approximately 12.29% to 9.54% due to the issuance of additional shares.